Prime Minister Gaston Browne has rejected claims that the government once held full ownership of Blue Ocean Marine Limited, telling Parliament that at no point did the state own 100 percent of the company, as suggested by Opposition Leader Jamale Pringle during Thursday’s sitting of the House of Representatives.
Responding to Pringle’s question about why the government’s shareholding appeared to have fallen from 100 percent to 75 percent within weeks, Browne clarified that the Blue Ocean venture has always been a public-private partnership, not a wholly government-owned entity.
“At no point did the government of Antigua and Barbuda own 100 percent of the shares of Blue Ocean,” Browne said. “From inception, it was structured as a partnership—40 percent owned by the government, 51 percent by Meridian, and 9 percent by Mr. Connolly Brown, an Antiguan with no relation to me.”
Browne said the government is now increasing its stake to a majority position through a US$2.5 million investment that will finance the purchase of specialized marine equipment, including a dredging barge and support vessel. Once the valuation process is complete, the additional capital injection is expected to raise the government’s shareholding to approximately 75 percent.
He explained that the new equipment, a Caterpillar 615B that has been modified for marine excavation, will allow Blue Ocean to conduct deeper and more efficient dredging works, removing hard rock as deep as 40 feet.
“The $2.5 million will be utilized to purchase this specialized barge and machinery,” Browne said. “It will strengthen our capacity for dredging, reclamation, and coastal works that are vital to national development.”
Pringle also questioned whether the government’s dredging at Barnacle Point, the site of the Peace Beach project, conflicted with marine rights previously granted to the Yida development. Browne dismissed the claim as “mischievous,” insisting that Yida has no such marine rights and that all necessary environmental and statutory approvals were granted for the Blue Ocean works.
He added that the coastline in question was already developed through prior dredging by private entities. “Practically all of the land in that area was reclaimed—properties owned by the Hadids and the marina nearby were all created through dredging,” Browne said. “This is not a pristine area as suggested by some.”
Browne said the government’s growing stake in Blue Ocean aligns with efforts to expand Antigua and Barbuda’s blue economy and ensure local ownership of critical infrastructure assets.
“This investment is about empowerment and self-sufficiency,” the Prime Minister said. “It ensures that our country can carry out major marine and port works without depending on foreign contractors and that the financial returns remain within our economy.”
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