PM TELLS THE FACTS ON RCL

Prime Minister Philip Davis explained to the press last week why he changed his mind on the Royal Caribbean Project on Paradise Island.  He said that the first thing is that the amount of land that is being leased is three acres less than the FNM agreed to lease.  Secondly, there is a joint venture between the Government and the RCCL in the project, so the government has equity in the project. Thirdly, it excludes the land that Toby Smith, the Bahamian private investor, said he had with the refurbishment of the Paradise Island lighthouse.  He indicated that RCCL had agreed that they were prepared to assist Mr. Smith with the lighthouse project.  Fourthly, all the vendors would be Bahamian.  RCCL would not be allowed to compete with Bahamian vendors for transportation and sales.  None of these were part of the FNM approved project.  The project is still subject to the usual governmental approvals including that of the environmental impact studies.