Groundbreaking Rum Cay Resort & Marina
Rum Cay
12th May, 2006

On behalf of the Government of The Commonwealth of The Bahamas, it is a privilege to be here to announce a great beginning; the actual start; the breaking of ground in this enormous undertaking by the Developers, Montana Holdings Ltd.

Rum Cay; this is it.  This is the beginning of your five-star anchor resort.
This is the start of the opportunity for which you have waited, lo these many years.

This project will bring a total capital investment to Rum Cay of over $700 million.

Today, this groundbreaking is for the first phase of the development which includes the Rum Cay Resort & Marina.

We have agreed that this phase will also include an 80-slip marina, marina village with marina condominiums and estate homes.

Construction on Phase I will begin in September of this year with the anticipated employment of 300 during peak construction.  But as you know, work is already going on.
On completion of Phase 1, we expect that up to 400 permanent jobs will be created.

Phase II of the development will center on the luxury hotel and associate amenities and Phase III will complete residential estates as well as expansion of the marina village.

The luxury hotel is expected to be open in 2010 with the completion of the residential components with full build out of the resort by 2016.

My Government appreciates the support from Mr. John Mittens and his team at Montana Holdings.

I acknowledge these individuals for sharing in our vision of Rum Cay as a vibrant, living and growing community.

There is no question that this project will contribute significantly to that vision and – beyond the direct impact – it will also provide a wide range of entrepreneurial opportunities for the residents of Rum Cay.

I hope that Delores Wilson, Ted Bain and descendants of Rum Cay like the Franks and Butler families will benefit from this.

I hope that many other Bahamians in the neighboring Family Islands will capitalize on this economic opportunity and bring their families to Rum Cay.

Let me also highlight the public/private partnership between the Bahamas Government in joint venture with Montana Holdings Ltd. for the renovation and construction of the Port Nelson Airport.

The work at the airport is about $20 million with government facilities for Bahamas Customs, Immigration and Royal Bahamas Police Force personnel at Rum Cay.

In October 2003, Rum Cay was declared a Port of Entry with the new runway being completed and opened for service on 27th February, 2004.  Point-of-entry status will facilitate efficient direct connection to the United States and beyond.

It is fitting to note that the runway will be expanded to accommodate larger flights as well as direct commuter services and the possibility of direct jet services.

The new airport terminal building (planned to be opened later this year) will be the third largest airport in The Bahamas, setting the standard for the Family Islands.

A full service Fixed Base Operation will offer both maintenance and line services – lowering operating cost while creating sustainable employment.

From the promotion of the proposed Rum Cay Development via Montana Holdings Ltd. through its extensive marketing campaign in leading publications, I have been made to understand that thousands of prospective home purchasers as well as tourists have registered their interest in Rum Cay.

Montana Holdings Ltd. has also demonstrated its commitment to the environment undertaking various environmental studies costing over $500,000.

Montana Holdings Ltd. has also commissioned an extensive historical study to ensure that identified antiquities are preserved for the future.

The company has also established a tree farm at a further expense to promote the growth of indigenous plants.

 Montana Holdings Ltd. has also committed to cooperate with the BEST Commission and the Antiquities and Monuments and Museum Board.

Together, the developer, the Commission and the Board will collaborate in the preservation, conservation and restoration of antiquities and historical sites identified within the Development, and pay for a qualified archaeologist to monitor those sites during the construction and operation of the development.

Montana Holdings Ltd. is committed to working with my Government to ensure success.  I would like to acknowledge all Government officers for your steadfast support for this project.

On behalf of the Government and people of The Bahamas especially the residents and descendants Rum Cay, I wish to formally welcome you to The Bahamas.

We acknowledge your confidence in our economy and your commitment to the Island of Rum Cay.

Your investment represents in a significant way, your confidence in the economy of The Bahamas and your commitment to assist in the process of transforming the Island of Rum Cay.

Ladies and Gentlemen, today represents a new beginning for this island community.

The future of Rum Cay is being shaped by today’s historic event.

I am honoured to be here as the Prime Minister on this occasion and to turn this first shovel of earth.

This is a moment that will forever be remembered as the beginning of a new chapter in the success story of this community.

Thank you.