Bermuda Launches RFQs for Energy Production and Cargo Port Projects - Global Trade Magazine
  April 6th, 2018 | Written by

Bermuda Launches RFQs for Energy Production and Cargo Port Projects

Sharelines

  • Bermuda’s energy infrastructure is nearing the end of its life cycle.
  • Bermuda is the first OFC to be included in the OECD’s list of compliant countries.
  • Bermuda is a popular jurisdiction for international investment and is respected as an offshore financial center.

Bermuda Land Development Company Limited (BLDC) is inviting local and international developers to submit their qualifications for consideration regarding two infrastructure projects in Bermuda: a national energy generation facility and an international cargo plant.

Formed in 1996, BLDC is a private company which oversees the development of land and buildings previously occupied by US and Canadian military forces.

“Our mandate is to evaluate and support redevelopment options that strengthen the social and economic fabric of Bermuda,” said Francis Mussenden, the company’s CEO, “and we are seeking innovative, world-class partners to design, build and operate infrastructure projects that will benefit our residents and local businesses in the short and long-term.”

“Bermuda’s economy is expanding and we are preparing for the future,” said Minister of Public Works David Burch. “Our energy infrastructure is nearing the end of its life cycle. Additional energy production will help improve stability and reliability, especially during times of peak demand and emergency situations. Additionally, the establishment of an international cargo port will increase capacity and improve Bermuda’s ability to offer potential services like international transshipping services and fish processing. “

Bermuda is a self-governing British Overseas Territory located in the mid-Atlantic, two hours away from New York by flight, and easily accessible from the US, Canada, and Europe. The tax-neutral island remains a popular jurisdiction for international investment, with stable legal and political systems, and a long history of collaboration between government, industry and regulators.

Bermuda is respected globally as a world-class offshore financial center (OFC), and is the first OFC to be included in the OECD’s list of compliant, transparent countries. Bermuda’s standard of living and GDP per capita ranks among the highest in the world, and the island offers a secure and modern infrastructure, including excellent telecommunications, access to major financial markets, and a wealth of world-class talent that supports local and international business.

The proposed energy production facility and cargo plant are both expected to exceed $150 million, and take several years to complete. Viable partners for each project will be selected based on RFQ submissions. Companies that qualify will be shortlisted to submit full proposals near the end of 2018.

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