GPH.L Share News (GPH)

GPH.L Information

There is currently no data for GPH

REMOVE ADS

Global Ports signs 30-year memorandum of understanding in Saint Lucia

Mon, 24th Oct 2022 07:22

(Alliance News) - Global Ports Holding PLC on Friday said it signed a 30-year memorandum of understanding with the government of Saint Lucia.

The London-based cruise port operator said the MoU with the Caribbean island state is for a concession for cruise-related operations. It carries the option of a 10-year extension. Neither party disclosed financial details.

"In addition to improving the overall cruise passenger experience in St Lucia, GPH is committed to driving significant economic benefits for the local residents through improving the facilities in and around the port such as Fisherman's Village and driving increased passenger spend in the destination," Global Ports said. The company noted that Saint Lucia had around 790,000 passengers in pre-pandemic 2019.

Global Ports added that it expects the signing of the final terms of the agreement to occur in the first half of 2023.

In August, Global Ports signed an agreement with Puerto Rico Ports Authority to lease San Juan Cruise Port for 30 years, in a deal worth at least USD425 million.

By Tom Budszus; tombudszus@alliancenews.com