Global Ports Holding announced it has signed a Memorandum of Understanding (MoU) with the Government of Saint Lucia for a 30-year concession, with a potential 10-year extension option for the cruise related operations.

Under the terms of the MoU, both parties have entered into an exclusive period. During this period, GPH and the Government of Saint Lucia will continue to carry out extensive due diligence, and both parties will work towards successfully signing the concession agreement.

Following the successful execution of the concession agreement, GPH will use its global expertise and operating model to manage the cruise port operations in Saint Lucia.

In addition, GPH will invest in a material upgrade of the cruise port facilities, including the expansion of the existing berth in Point Seraphine, which will allow the handling of Oasis-class ships, as well as transforming the retail experience, including through the redevelopment of the Vendor’s Arcade and other facilities at Castries, according to a press release.

In addition to improving the overall cruise passenger experience in Saint Lucia, GPH said it 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 2019, Saint Lucia welcomed 790,0000 passengers, and the completion of the extended pier and upgrade of the facilities are expected to lead to a rise in passenger volumes to over one million in the future.

The signing of the Concession Agreement is subject to both parties’ agreement on its final terms. Signing is expected to occur in the first half of calendar year 2023, although there can be no certainty as to the timing or that the terms of a concession agreement will be agreed.