THE Government of the People’s Republic of China yesterday formally approved the $2.6 billion investment in the Baha Mar project on Cable Beach, bringing an end to speculation on the viability of the resort development.
In a statement from the Cabinet office yesterday, Prime Minister Hubert Ingraham confirmed that His Excellency Dingxian Hu, the Ambassador of the People’s Republic of China, had advised that his government has given formal approval for “various agencies of the Chinese government to enter into a joint venture with Baha Mar Ltd for the redevelopment of Cable Beach.”
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