Despite all the noise in the market, the real reason why Ken Russell was fired from the Cabinet had little to do with his re-nomination and everything to do with his promoting a $1.5 billion development that the Cabinet had already rejected… four times.
$1.5 Billion Development Rejected
By Yasmin Popescu
In an interview with the press after acknowledging being axed from the Cabinet of The Bahamas, Member of Parliament for High Rock, Kenneth Russell told the story of an investment that promised a lot for Grand Bahama that was denied.
Questioned by The Freeport News about the plans, Russell said, he was working with a gentleman from the United States who owns a company that was seeking to do a major development in Grand Bahama.
“It was supposed to go first of all in the Freeport area; however, he later decided on East Grand Bahama, but that was rejected by the government after four attempts. Rejected by the government and right now that’s it.”
Asked why it was rejected, he said, the rejection came from Prime Minister Hubert Ingraham, adding that it was rejected because the Port Authority wasn’t selling any property. He noted the investors had applied for the property from the Port Authority and that request was also denied.
“My simple goal was to put Grand Bahamians to work, that’s all I was after,” he stated. “Unfortunately, that is a misstep, in me trying as a Minister, trying to get my people to eat and clothe and feed their families.”
Asked about the scope of the project, Russell said, it was supposed to be a $1.5 billion touristic development.
“It was supposed to go first of all in Sharp Rock, but because of the problem with the Port Authority they decided that they wanted to look at Blackfoot Point up East End, but the government did not see any (way for) this project and didn’t agree to it.”
He noted that Sharprock is in the Port area. The potential investors, he said, were trying to purchase 2,100 acres in the Eastern part of the island.
While in Grand Bahama yesterday, Prime Minister Ingraham, confirmed that the project was rejected by the government.
By: Yasmin Popescu
Freeport News
