By NATARIO McKENZIE
Tribune Business Reporter
A Cabinet Minister said yesterday that the Government is conducting “due diligence and analysis” on a public-private partnership (PPP) proposal by the Bahamas Striping Group of Companies.
Speaking at a press conference, Michael Halkitis said: “We are doing our due diligence and analysis, and so we hope to be done very soon. They have built this company in this short time, so we have no doubt that they will be excellent partners. We are still going through the analysis and the numbers etc.”
Bahamas Striping Group of Companies (BSGC) executives said as recently as last week that they were “holding faith” and awaiting government approval on the structure of a PPP that would pave the way for airport and road intenance on 10 Bahamian islands.
The wholly-Bahamian owned group announced last January that it had submitted $50 million worth of proposals to the Government, and that it had obtained a draft Memorandum of Understanding (MOU).
Atario Mithcell, president of Bahamas Striping, told Tribune Business yesterday that the group was waiting for the Government to finalise the PPP structure.
The Bahamas Striping Group of Companies (BSGC) is comprised of, Bahamas Striping (BSL), Airport Maintenance Services (AMSL) and Caribbean Pavement Solutions (CPSL).