Puerto Rico's governor on Tuesday announced a public-private partnership to overhaul the island's cruise ship docks as part of a $425 million project to boost the U.S. territory's tourism sector.
Governor Pedro Pierluisi said the project aims to transform Puerto Rico into the Caribbean's main cruise ship destination by modernizing, repairing, and expanding nine docks located in the capital of San Juan to receive larger vessels and more passengers.
Carlos Mercado, executive director for the island's Tourism Company, said, "It's an extremely important day for tourism in Puerto Rico,"
San Juan Cruise Port—a subsidiary of London-based Global Ports Holding, the world's largest cruise port operator—will be responsible for operating and overseeing the project as part of a 30-year deal with Puerto Rico's Ports Authority.
The contract states the island's government will receive annual payments representing at least 5% of the operator's gross income.
