With billions of dollars in investments underway on the island across multiple sectors, the addition of MSC Cruises to the Grand Bahama Shipyard consortium marks another significant milestone for Grand Bahama, amid the facility's ongoing $665 million transformation.
This expanded partnership aims to solidify the shipyard's position as a world-class repair center for cruise and commercial vessels. With MSC Cruises' involvement, the facility is expected to increase its operational capacity, expand its technical capabilities, and advance toward its long-term vision of becoming the world's largest cruise ship repair center.
The economic impact will be tangible and far-reaching, contributing significantly to the revitalization of Grand Bahama's economy by creating a considerable number of jobs, fostering the emergence of new businesses, and strengthening the island's status as a strategic bridge between North America and the Caribbean.
The expansion of operations at the shipyard will inject millions of dollars into the economy through increased employment, generating indirect opportunities for local suppliers, nearby businesses, and surrounding communities.
“There has been significant interest in Grand Bahama in recent months, and even more is to come from MSC Cruises and other global investors,” said Ginger Moxey, Minister of Grand Bahama. “This is a pivotal moment for our island. As the transformation continues, we are witnessing the rebirth of Grand Bahama as a preferred destination for large-scale investment, job creation, entrepreneurial opportunities, and sustained economic development.”
Grand Bahama Shipyard plans to perform between 85 and 100 dry docks per year, including more than two dozen cruise ship refits and maintenance annually once it is fully operational.
“We are thrilled to see the positive momentum in our expansion and modernization, which is expected to increase activity at the shipyard, boost local businesses, create economic opportunities and enrich the Grand Bahama community,” said Chris Earl, CEO of Grand Bahama Shipyard.
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