The main objective of the billion-dollar joint venture between The Bahamas government and the I-Group is to develop Mayaguana’s infrastructure to such a degree that other investors will see great potential for investing in that island, according to the developers and government officials.
Unbroken by much in the way of hills or valleys, the flat expanse that is Mayaguana is ripe for a major infrastructure inlay, according to Junaid Yasin, executive vice president of the Mayaguana Development Company (MDC), which was formed as part of the joint venture between the company and the government.
After searching the Caribbean, and other islands in The Bahamas, Mr. Yasin told the Journal that the I-Group settled on Mayaguana because development of the infrastructure there would be cost effective.
Other factors, according to Mr. Yasin, include the country’s stable government and legal system, and the fact that the I-Group felt that Mayaguana could be developed according to a plan.
On the matter of other resort operators who might potentially be approached to participate in the Mayaguana development, Mr. Yasin echoed I-Group CEO Stephen Roy’s statement that it was too early to say.
“After we get the infrastructure to a certain level then we’ll get into our marketing phase,” Mr. Yasin said, suggesting that it might be a year and a half before that happens.
Mr. Roy did note that there are flights expected from three major American air hubs once the airport is operational – Miami, Chicago and Los Angeles.
Mr. Roy’s company, The I-Group of Boston, is basically an infrastructure company, according to officials, having done projects in Saudi Arabia, the United States and South America among other places. Over the years the company’s activities have included the building of power plants, electric infrastructure, desalination plants, and other heavy industrial activities.
The I-Group is not only about infrastructure, however.
“We also own some resorts, some hotels, some restaurants, and an historic property in Europe where some 20,000 visitors [go] every year,” Mr. Roy said.
In order to demonstrate its ability and willingness to be good community partners, I-Group reportedly spent more than $8 million pushing roads to the different areas of Mayaguana that it proposes to develop. The MDC also employs Bahamians to run its operation in Mayaguana, and in fact its lead man is a Mayaguanian named Ramadan Mackenzie.
A woman identified only as Ms. Moss, who was born and raised in Mayaguana, evinces a subdued optimism about the development, especially as it relates to income.
“Most people depend upon fish, going in the boat, so once the weather is bad there’s really no income,” Ms. Moss told the Journal.
She said that Mayaguana desperately needed investment, and that it was time that the government remembered (Mayaguana).
Cleveland Brown, an employee of Bahamasair and also a Mayaguana native, echoed the sentiment that Mayaguana needs the investment.
“It’s a good opportunity for the people of Mayaguana because we [were] back some time, far, far, far in the back,” he said, “and since The Mayaguana Group came in, I think it’ll be better off.”
Doug Gibson, a grandfather born in Pirate’s Well, left Mayaguana in the 70s for Nassau, and eventually New York City. He returned to Mayaguana to keep his father company after his mother passed away.
According to Mr. Gibson, who was sporting the blue “TMC” (The Mayaguana Company) jumpsuit of a ‘team leader,’ seeing the positive implications of the development was a “no brainer.”
Mr. Gibson said he saw no negative impact on the Mayaguana community “at the moment.”
“With us watching and guiding our environmental impact on this thing, let’s do this. We’ve been waiting for this for some time, actually,” he said.
Ms. Minnis, another Mayaguana resident, told the Journal that the development bodes well for Mayaguana because it means that children graduating from school on the island need not leave.
“Instead of going off and going different places to work, they can invest in their own home, they could make it better here,” she said.
Ms. Minnis also told the Journal that the lengthy timeframe for the project was not a major problem.
“We [are] used to what we [are] used to. We [have to] go back the old way anyhow, so [we don’t] mind [much] if it takes long or not, once the [investors] come and invest, whatever be, be,” she explained.
New investments Minister Vincent Peet, who formerly helmed the labour ministry, told Mayaguanians that the opportunities to be exploited by local entrepreneurs were ideal for the much-touted Domestic Investment Board to assist.
Addressing the children gathered at a ceremony celebrating the signing of the heads of agreement last week, Minister Peet told them to “get (their) own trades” and participate.
Prime Minister Perry Christie told Mayaguanians they would guarantee the success of the project “by the labour (they would) provide.”
By: Quincy Parker, The Bahama Journal
