Global Ports Holding (GPH) is partnering with Royal Caribbean Cruises to develop cruise facilities in Antigua & Barbuda.
The world's largest independent cruise port operator has signed an equity partnership agreement with the cruise company for GPH's local subsidiary, GPH (Antigua).
The partners will invest in the completion of the new pier at St John's Port in Antigua & Barbuda that will allow the port to handle the world’s largest cruiseships, including Royal Caribbean’s Oasis class and Carnival’s XL class.
The port's current retail, food and beverage facilities will also be upgraded and expanded.
Full financial closure of the translation, including the final terms of the partnership agreement and commencement of the concession, is expected before the end of July, Global Ports said on Thursday.
GPH (Antigua) was in February awarded an exclusive 30-year concession for cruise port facilities at St John's Port in Antigua & Barbuda, and Falmouth Harbour and Barbuda Island.
The Caribbean, which accounts for 35% of all cruise voyages, is a region of strategic growth for London-listed GPH, the company's chief executive Emre Sayin told TradeWinds earlier this year.
