August 23, 2022 | By Colin O. Jarrett |
Puerto Rico’s governor last Tuesday announced a public-private partnership to overhaul the island’s cruise ship docks as part of a 425 million-dollar project to boost the US territory’s tourism sector.
The Governor said the project aims to transform Puerto Rico into the Caribbean’s main cruise ship destination by modernizing, repairing and expanding 9 docks located in the capital of San Juan to receive larger vessels and more passengers.
San Juan Cruise Port, a subsidiary of London-based Global Ports Holding, the world’s largest cruise port operator, will be responsible for operating and overseeing the project as part of a 30 year-old deal with Puerto Rico’s Port Authority that was five years in the making.
The contract states the island’s government will receive annual payments representing at least 5% of the operator’s gross income.