Grantley Adams International Airport Incorporated and the office of theSheikh of Dubai and Agencias Universales of Chile have reportedly signed a Memorandum of Understanding towards a new Public Private Partnership.

It involves investment in and development and operation of the airport, a hemispheric hub for cargo, expanded airlift and additional luxury hotel capacity.

According to a statement obtained by Starcom Network News, the proposed Public Private Partnership follows the earlier MOU between the Governments of Barbados and the UAE that looked towards closer commercial interests, especially in the transport and travel sectors.

The statement says the Government of Barbados has no desire, under any circumstances, to sell Grantley Adams International.

But, it believe the best avenue for new investment is a Public Private Partnership which brings investment and international airport management experience and expertise in return for sharing airport revenues.

The investment in Grantley Adams will reportedly be in the amount of 300 million Barbados dollars.