Baha Mar announces new deals with China

Read storyThe president of Baha Mar Resorts recently announced an agreement signed with Chinese investors to go ahead with the multi-billion dollar resort.

Although the agreements are described by hotel executives as preliminary, they include deals with the China State Construction Engineering Corporation to build the resort and a memorandum of understanding regarding project financing was signed with Export-Import Bank of China.

Baha Mar President Dan Robinson announced the agreements in China but, speaking to The Guardian at a seminar in the Bahamas, CEO Sarkiz Izmirlian said:

"The China State Construction Company will be the general contractor and [will] build the project. They will also be an investor in the project and then the China Exim Bank will finance the project."

"We're going to be operating the casino and the casino hotel and we're the developer. We put all this thing together."

Full Story in The Nassau Guardian here