(Photo from cscec.com.cn)

The Bahamas' office of China's largest construction company China State Construction Engineering Corp. (CSCEC) issued a statement on July 25 that it will make joint efforts with the Export-Import Bank of China and Baha Mar Resorts Ltd to reach a solution to resume work for the building of a multibillion-dollar casino resort in Bahamas as soon as possible, according to the China News Service report on Sunday.

With a total investment of 3.5 billion US dollars, the hotel, casino and resort project is located in Nassau, capital of the Bahamas and is the CSCEC's largest overseas investment project.

The 1,000-acre Bahamas resort project envisions some 2,250 hotel rooms, a 100,000-square-foot casino and an 18-hole golf course.

It is expected that the project will create 5,000 new jobs and in the next ten to twenty years. Its contribution to Bahamas' economic growth will reach 10 percentage points every year.

The casino resort was planned to open for business at the end of 2014, but remained to be unfinished due to some reasons including construction and financing.

Negotiations are underway in Beijing, but it is not clear whether an agreement will be reached.

In 2008, Harrah's Entertainment Inc. pulled out of the project. In 2010, the Export-Import Bank of China agreed to provide 2.45 billion US dollars financing. It was planned to be completed within 44 months and open for business by November of 2014.