Liwathon Group, a global leader in the energy sector, is pleased to announce that the Board of Directors of the Export-Import Bank of the United States (EXIM) has approved a final commitment loan guarantee exceeding $71.3 million. This significant financial backing will support the relaunch of the 1.1 million m3 South Riding Point energy terminal in the Bahamas later this year, operated by Liwathon B.O.S. LLC.
The loan guarantee marks one of the largest financial commitments by EXIM for a project in The Caribbean Community (CARICOM). "This milestone underscores our commitment to operational excellence and strategic asset growth," stated a spokesperson for Liwathon Group.
Minister for Grand Bahama, The Hon. Ginger M Moxey M.P. said, "This investment marks another pivotal moment in the revitalisation of the Grand Bahama economy. The loan from the Export-Import Bank of the United States to the Liwathon Group will bring new investments, new jobs and new entrepreneurial opportunities to Grand Bahama Island. The $71.3M arrangement reaffirms Liwathon Group’s commitment to sustainable growth, and the government is happy to support this major project, as we work together to create a brighter future for our island and our people.“
The relaunch of the South Riding Point Terminal is a pivotal moment for both the United States and the Bahamas. It will create numerous job opportunities in both countries and contribute to community development in Freeport, while reinforcing energy security between the Americas and international markets as a major transhipment storage, blending and export maritime energy terminal.
Liwathon Group owns over 2,100,000 m3 of storage across two major terminals, including the one in the Bahamas, reinforcing its global presence in the energy sector. "We are committed to providing secure, reliable, and affordable energy solutions while adhering to the highest industry standards. This loan guarantee demonstrates our focus on strategic growth, especially in areas where future investment in energy infrastructure is necessary to maintain supply resilience," commented Liwathon Group.