In a significant move to enhance national self-sufficiency in marine infrastructure, the government of Antigua and Barbuda has acquired a majority stake in Blue Ocean, a newly established state-linked dredging and reclamation company. Prime Minister Gaston Browne announced the decision during an interview on the *Browne and Browne Show* on Pointe FM, revealing that the government will hold approximately 75 percent ownership of the company. As part of this initiative, the government has invested $2.5 million in state-of-the-art dredging equipment, including a $1.2 million dredge machine and a $1.3 million barge, both expected to arrive within four weeks. This strategic acquisition aims to reduce reliance on foreign contractors and position Antigua and Barbuda as a regional leader in maritime engineering. The equipment will enable the government to undertake harbor and reclamation projects independently, fostering cost savings and generating revenue through regional contracts. Prime Minister Browne emphasized that this investment aligns with a broader strategy to strengthen public-sector capacity in critical areas such as construction, port management, and coastal defense. Blue Ocean is part of a suite of government-owned enterprises, including a concrete and block plant and a modern port crane, designed to retain economic value within the country. The Prime Minister highlighted the dual benefits of this approach: reducing taxpayer costs and creating practical, revenue-generating assets. The new dredging equipment is expected to support future port expansion, coastal protection, and marine restoration projects, further solidifying Antigua and Barbuda’s position as a hub for maritime innovation in the Caribbean.
Government to Hold Majority Stake in Blue Ocean, Invests $2.5M in Dredging Equipment
