🌐 Private firm may take over sub-sea cable project

Infrastructure Minister Jay Ebanks has hinted at a potential shift in the Cayman Islands government's plans for a third sub-sea communications cable. In a recent parliamentary session, Ebanks revealed that an undisclosed private sector company had offered to build the cable, and the Cabinet was considering this option. However, he provided few details about the proposed project, which was initially expected to be funded by the public purse. 🏛️

Cambridge Management Consulting, contracted by the government in November 2023, has reviewed previous analyses and assessed potential industry partners for the project. The consultants presented preliminary recommendations and a costed project plan to the caucus in March 2024. Ebanks did not disclose the identity of the interested party that had made the offer, but it is likely to be Seaborn Networks, which made an unsolicited application to OfReg in 2022 to finance and connect a marine communications cable. 🌊

Despite the minister's reluctance to provide more information, the project has faced criticism due to the lack of justification for the required level of investment. The Cayman Islands Government has already spent between CI$1.5M and $2M of taxpayers' money on consultants for the project. Further details are expected to be revealed following a Cabinet decision on the project. 💼