St. Vincent and the Grenadines signs cruise port deal with Global Ports Holding

The Government of St. Vincent and the Grenadines has signed a 30-year agreement with Global Ports Holding (GPH) to modernize and expand the nation’s cruise tourism infrastructure. Under the terms of the deal, GPH is granted operational, management, and development rights for the country’s cruise ports, while the government maintains 100% ownership of all physical port facilities.

The agreement mandates a minimum investment of US$80 million from GPH, divided into two phases. Phase One requires at least US$20 million to expand existing cruise berths in Kingstown. Phase Two requires at least US$60 million for the construction of a new pier west of Kingstown and a new cruise ship and mega-yacht pier at Clifton, Union Island.

To encourage local economic participation, the contract includes the creation of a Special Purpose Vehicle (SPV) that allows Vincentian citizens and local entities to acquire up to a 30% equity stake in the local GPH operations. Priority for these shares will be given to local retail investors.