GEORGE TOWN, Grand Cayman – Premier Hon.
Alden McLaughlin announced today that the Cayman Islands Government
has received a formal financial commitment from MSC Cruises to
provide funding toward the costs of constructing the cruise berthing
facility.

MSC Cruises is the fourth cruise line company to
financially commit to the cruise berthing project, along with Royal
Caribbean, Carnival and Disney.

Mr. McLaughlin affirmed that having four cruise
lines signed on to the cruise berthing project provides tremendous
benefit to the Cayman Islands.

“These agreements, coupled with the finance to
be provided by whichever entity is eventually selected as the
preferred bidder on the project, ensure that no public funding will
be required to build the cruise berths and enhanced cargo facility,”
he said.

“As well as strengthening the project’s
financing structure, having cruise companies financially vested in
the project provides assurance that the Country’s finances will not
be exposed to risk and is a positive indication of their commitment
to our Islands for decades to come. It is a win-win situation for the
country, the preferred bidder and the cruise lines,” he said

Minister for Tourism Hon. Moses Kirkconnell said
he is very pleased that MSC Cruises has signed on to support the
development of the Cayman Islands cruise berthing facility.

“This agreement represents the accomplishment of
another key milestone in the lifecycle of this project. MSC operates
more than 1,000 routes globally and is one of the fastest growing
cruise companies in the world. Their commitment to the Cayman Islands
will help to sustain and grow our cruise tourism industry into the
future,” said Mr. Kirkconnell.

The Cruise Berthing Facility Project is now in its
sixth year and has undergone a rigorous procurement process to
identify a preferred bidder to construct the berthing facility within
a design, build, finance and maintain framework. The Port Authority
of the Cayman Islands will continue to own, operate and manage the
facility as it does today.

To stay informed on all of the latest news and information on the cruise berthing project the public is encouraged to visit the cruise berthing facility website at http://www.SupportOurTourism.com and to check the project’s facebook page for daily updates.