The Ministry of Finance and the Ministry of Tourism, Transport and Municipalities today released the L. F. Wade International Airport Redevelopment Entrustment Report and Summary as well as the Value for Money Report.
The summary provides the highlights of the comprehensive Overall Business Case -Entrustment Report that fulfils the entrustment requirements established by the Foreign Commonwealth Office ("FCO") and addresses the gaps identified in the Deloitte report, dated May 8, 2015.
Of particular note is the Value for Money ("VFM") assessment undertaken by independent consultant, Steer Davies Gleave ("SDG"). The VFM assessment highlights how the Airport Redevelopment Project compares with similar P3 deals and concludes that overall the Project achieves value for money for the people of Bermuda.
The public is encouraged to read the Overall Business Case report in its entirety. However, recognizing the comprehensive and technical nature of the content, the summary report is intended to provide an overview of the key aspects of the Project.
Please find attached copies of these reports; additionally they can be found on the Bermuda Government Portal, on the Airport Redevelopment Project (ARP) page.