By MINDELL SMALL, Guardian Senior Reporter

mindell@nasguard.com

A number of local contractors are expected to benefit from the Memorandum of Understanding (MOU) signed yesterday, between the Government and Vancouver Airport Services (YVRAS), to redevelop Nassau International Airport.

YVRAS, the leading airport operator in North America, currently manages 18 airports in seven countries in this hemisphere.

Minister of Transport and Aviation, Glenys Hanna-Martin, said as a result of the agreement, a new Bahamian company "Newco" would be established to assume operations of the airport.

"The participation of Bahamian firms in the development of the airport will be preferred, and they will be invited to participate in any tenders for financing, capital works and other airport contracts," she said.

"Preference in the award of contracts will only be provided to such Bahamian firms, if they are able to demonstrate their ability to provide the same quality and competitive terms as international parties."

In the MOU, YVRAS will manage and develop the airport and work with the Airport Authority. Newco will be responsible for transforming the airport into a premier world-class facility, operating it in an efficient and commercial manner, while remaining cost competitive.

"Having regard to the principles mentioned above, in relation to retail business and concessions, Newco and YVRAS will conform to the policy of the government restricting such businesses to be owned and operated by Bahamians, incorporating international best practice standards and facilitating the development of the airport into a premier world-class facility," said Mrs Hanna-Martin.

"The Government contemplates, in due course, offering shares and financing opportunities in Newco to Bahamians," she added.

Regarding staffing and training, YVRAS, for a period, is expected to place several key non-Bahamian executives with specialist expertise to augment the Bahamian staff at NIA. YVRAS said it would also continuously train Bahamians, so that the majority of the executive team will be made up of Bahamians within five years.

Touching on construction, Mrs Hanna-Martin said Phase I of the redevelopment will involve the execution of high priority projects, such as improving the physical and sanitary conditions of the airport; alleviating congestion associated with U.S pre-clearance; alleviating problematic parking conditions and airside congestion; managing adequate check-in spaces for additional air traffic growth; facilitating increased group travel as well as minimising and streamlining passenger security checks.

"Consistent with creating a premier world-class airport, all of the above is to be completed no later than 24 months after the date that YVRAS assumes responsibilities (yesterday) for the management, operation, development, and maintenance of the airport," said Mrs Hanna-Martin.

Phase II will involve the planning of the development of the airport, including the upgrading of existing facilities and the construction of a new or upgraded terminal commencing as soon as possible, and to be completed no later than four years.