Construction continues on the $38 million North Abaco Port with the majority of labour intensive work set to begin in the new year which will lead to additional jobs for Bahamians.
According to Max Yu, Liaison for China Harbour Engineering Company (CHEC), the project currently employs about sixteen Chinese and eighteen Bahamian workers; however, as work progresses there will be fewer Chinese workers and they will need more Bahamians.
As the work switches to building and surfacing the area with concrete they will need more workers and are going to hire as many as 60 Bahamians, according to Ms. Yu.
The Port is expected to be roughly three times the size of the Marsh Harbour Port. Work has already begun with building the foundation of the administration building for the port. There will additionally be buildings constructed for Domestic Freight, International Freight, Landing Craft, a Marina and a guard house/security booth.
The harbour stands just over fifty percent complete and is scheduled for a Jan 2017 completion date but several delays may put the project slightly beyond that date.
The North Abaco Port has a projected 50 year life and economic models predict an 18% Internal Rate of Return.