Initial investment: Executives of Eco-Oil, Portugal, Queensway Navigation and the Grand Bahama Port Authority (GBPA) announced the construction of a port reception facility in Freeport Harbor.
Eco-Oil Bahamas Ltd. invests about USD 10 million in the facility, which will be fully automated and designed to treat 60,000 tons of oily wastes per year, being the equivalent to 500,000 barrels. In addition, several thousand barrels of reusable oil will be regenerated as a result of the process. The new MARPOL services project will be split between a proposed shoreside facility and ship operations, supported by Queensway Navigation and Eco-Oil Ltd., Portugal, respectively.
Importance and meaning
“The project brings MARPOL services to the country and will have a positive impact in the harbor community and the entire industrial cluster” said Francisco Quintela of Eco-Oil Ltd.
“This launch symbolizes a commitment by all to the continued growth of Grand Bahama’s Maritime and Industrial sectors. Aside from the benefits of both pre and post construction employment, our island will see the creation of 30+ quality jobs for residents and the transfer of new trade skills to our labor pool. Moreover, Freeport is once again established as an industry leader, being the first Port in the country, if not the Caribbean to provide MARPOL services,” commented Derek Newbold, Sr. Manager of Business Development for GBPA and Invest Grand Bahama.
According to Freeport Port Authority President Ian Rolle, “Grand Bahama will be able to offer an essential service to the many vessels transiting our waterways. A service, which will be provided in a manner consistent with global best practices, protecting our precious marine and land resources. And it will align Freeport Harbor with other MARPOL compliant ports around the globe”.