============
Global Ports Holding PLC (GPH)
Signs 30-year concession agreement for Saint Lucia Cruise Port
09-Aug-2023 / 07:10 GMT/BST
══════════════════════════════════════════════════════════════════════════
Global Ports Holding Plc
Signs 30-year concession agreement for Saint Lucia Cruise Port
Global Ports Holding Plc ("GPH" or "Group"), the world's largest
independent cruise port operator, is pleased to announce that, following
the signing of a Memorandum of Understanding, which was announced on 21
October 2022, it has signed a 30-year concession, with a potential 10-year
extension option, with the Government of Saint Lucia for the cruise
related operations in Saint Lucia. This agreement marks a further
significant step in GPH's strategic ambitions in the Caribbean.
Port investment and passenger experience
As well as using its global expertise and operating model to manage the
cruise port operations in Saint Lucia, GPH will invest in a material
expansion and upgrade of the cruise port facilities.
This investment will expand the existing berth in Point Seraphine,
allowing the handling of the largest cruise ships in the global cruise
fleet and increasing the port's capacity. GPH will also invest in the
transformation of the retail experience at the cruise port, including the
redevelopment of the Vendor's Arcade and the design and development of a
new Fishermen's Village at Banannes Bay, providing an exciting new space
for local vendors. Investment will also be made into upland development
works at Soufriere Bay, including developing a new amphitheatre and F&B
area.
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.
In the 12 months to 31 March 2023, St Lucia welcomed c590k passengers
(2019 calendar year c790k), the completion of the extended pier and
upgrading the facilities are expected to lead to a rise in passenger
volumes to over 1m in the medium term.
The successful commencement of the concession is subject to a number of
final conditions being satisfied, and the handover and management of Saint
Lucia Cruise Port is expected to occur before the end of 2023. A further
announcement, as appropriate, will be made in due course.
Global Ports Holding Chairman/CEO, Mehmet Kutman said:
"I am delighted that the Government of Saint Lucia has awarded GPH the
cruise port concession for Saint Lucia. This concession represents another
significant milestone for GPH as we continue successfully growing our
global cruise port network. The award is a further endorsement of our
operating capabilities and the benefits our stakeholder partnership
approach can bring to cruise destinations, passengers and
the local population.
The GPH team very much look forward to working with all stakeholders to
build further on the success of this wonderful destination."
CONTACT
For investor, analyst and financial media enquiries:
Investor Relations
Martin Brown
Telephone: +44 (0) 7947 163 687
Email: 1 martinb@globalportsholding.com
══════════════════════════════════════════════════════════════════════════
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
ISIN: GB00BD2ZT390
Category Code: AGR
TIDM: GPH
LEI Code: 213800BMNG6351VR5X06
Sequence No.: 263257
EQS News ID: 1699009
End of Announcement EQS News Service
══════════════════════════════════════════════════════════════════════════
2 fncls.ssp?fn=show_t_gif&application_id=1699009&application_name=news&site_id=refinitiv
References
Visible links
1. mailto:martinb@globalportsholding.com
============