Posted on 08/16/2022 2:32:30 PM PDT by cll
SAN JUAN, Puerto Rico (AP) — Puerto Rico’s governor on Tuesday announced a public-private partnership to overhaul the island’s cruise ship docks as part of a $425 million project to boost the U.S. territory’s tourism sector.
Gov. Pedro Pierluisi said the project aims to transform Puerto Rico into the Caribbean’s main cruise ship destination by modernizing, repairing and expanding nine docks located in the capital of San Juan to receive larger vessels and more passengers.
“It’s an extremely important day for tourism in Puerto Rico,” said Carlos Mercado, executive director for the island’s Tourism Company.
San Juan Cruise Port — a subsidiary of London-based Global Ports Holding, the world’s largest cruise port operator — will be responsible for operating and overseeing the project as part of a 30-year deal with Puerto Rico’s Ports Authority that was five years in the making. The contract states the island’s government will receive annual payments representing at least 5% of the operator’s gross income.
As part of the deal, the number of docks currently capable of serving as base port for four cruise ships at a time will double to eight. Crews also will modernize docks battered by hurricanes Irma and Maria in 2017 and that have been worn down throughout the decades, with the first one being built in the 1970.
(Excerpt) Read more at apnews.com ...
The background is that the cruise industry is very important to this U.S. territory, but the port facilities where severely damaged during the hurricanes of 2017, after years of neglect mind you, and the Puerto Rico Ports Authority is broke and this is their way out of the mess. The deal has the implicit blessing of the U.S. Federal government.
Courtesy ping.
Meanwhile, how much is Porto Rico in debt, yet they are spending more money they do not have.
“Meanwhile, how much is Porto Rico in debt, yet they are spending more money they do not have.”
Where’d they learn that from?/s
How much of that cash will wind up in the Demokrat bank book?
Precisely because Puerto Rico is broke, is why they turned over a major U.S. Port to foreign not-so-friendly interests. That’s the question.
We are going to San Juan during our cruise in January.
Excellent. Not the first time?
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