A consortium is to spend up to $250 million expanding the capacity of Nassau’s cruise port in the Bahamas.

Independent cruise port operator Global Ports Holding is part of the Nassau Cruise Port group which has signed a 25-year concession to run the port.

The transformation will include a new terminal building, an event and entertainment area, improved shops and new food and drink facilities.

The expended port is being designed to act as a catalyst for the wider redevelopment of downtown Nassau.

Construction is expected to start in the autumn and is due to be completed within two years.

The revamped port is expected to bring in revenues of up to $40 million a year.

Global Ports Holding chairman and co-founder Mehmet Kutman said: “I am delighted that Nassau Cruise Port Limited has signed a concession agreement for Prince George Wharf at Nassau cruise port.

“This is a truly historic moment for Global Ports Holding. The GPH team very much look forward to working with our partners, the cruise lines and the people of the Bahamas to reinvigorate this iconic cruise port and the city of Nassau.”

CEO Emre Sayin added: “The addition of Nassau to our cruise port portfolio marks an important inflection point in our growth aspirations.

“Nassau will now become the biggest cruise port in our portfolio, increasing our passenger volumes by 50%.

“We very much look forward to working with our partners to transform both the cruise port and downtown Nassau for the benefit of Bahamians, cruise passengers and cruise lines.”