Government announced on Tuesday that it has chosen China Communications Construction Company as its “preferred bidder” to undertake the Terrance B. Lettsome International Airport expansion project.

CCCC’s final bid on the development was $153,432,572, while the consortium made up of the Canada-based IDL Group, the Cayman Islands-based McAlpine Limited and the Virgin Islands-based ADC Construction Company bid $198,810,525, according to government’s announcement.

Officials now hope to reach a contractual agreement with the China-based construction company within the next three months, the announcement stated.

The announcement also touted the importance of an expanded airport for the territory, but did not provide further updates about the project – such as the status of government’s efforts to obtain funding for it, or whether its full business case has been completed.

See the upcoming Jan. 12 print edition for full coverage.