A local tour company bared plans to purchase a submarine from tsunami-devastated Phuket and possibly bring it to Tinian as an additional attraction for Chinese tourists.<\/p>\n
Pacific Subsea Inc. hopes to start operating the new submarine in three to four months, according to company president Stephen Nutting.<\/p>\n
The firm got a little closer to its goal Friday, with the Commonwealth Ports Authority approving an initial 10-year lease to Pacific Subsea for an area at the North Seaplane Ramp in Lower Base.<\/p>\n
Nutting said the lease, whose term can be extended by up to 10 years, will help the company in its efforts to get financing to obtain the submarine.<\/p>\n
He noted that a lease, as opposed to the firm\u2019s current month-to-month rental arrangement with CPA, will provide financing institutions an assurance that the company will have a place to operate from over a long period of time.<\/p>\n
Pacific Subsea has been operating on a month-to-month rental basis since 1996 at a rate of $1,928 per month.<\/p>\n
The CPA board also granted Pacific Subsea a six-month waiver of the $1 passenger fee, upon consideration of the significant upfront cost of bringing the submarine to the Commonwealth.<\/p>\n
Nutting said the submarine will cost between $2.5 million and $3 million, while shipping from Phuket to Saipan will cost another $220,000.<\/p>\n
He added that Pacific Subsea is now working with the U.S.-based Overseas Financial Investment Corp. for financing, but nothing has been finalized yet. \u201cThere\u2019s still too many pieces to the puzzle,\u201d he said.<\/p>\n
He disclosed, however, that the company is looking at bringing the submarine to Tinian and marketing the tour as an optional activity for Chinese visitors.<\/p>\n
\u201cChinese tourists like the submarine a lot. With the CNMI getting the Approved Destination Status from China, we think there will be a market for a submarine tour on Tinian,\u201d Nutting said.<\/p>\n
The Tinian Dynasty Hotel and Casino is a popular destination among Chinese travelers visiting the Northern Marianas.<\/p>\n","protected":false},"excerpt":{"rendered":"
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