WILLEMSTAD – Curaçao is seeking international financial support for the environmental cleanup and redevelopment of Buskabaai, an area that authorities want to transform into a location for maritime, logistics, and industrial activities.
The project was among the subjects discussed during a visit by European Commission representatives on Wednesday, October 14, as part of broader efforts to attract financing for major maritime infrastructure projects on the island.
The European delegation, consisting of David Mogollon and Daniele de Bernardi, visited Buskabaai and the Curaçao shipyard at the invitation of CDM Holding.
Buskabaai
Discussions involved the Curaçao government, Damen Shiprepair Curaçao, the Curaçao Maritime Association, and other organizations connected to the proposed investments.
According to CDM Holding, the objective is to determine whether financing from European institutions can be combined with contributions from Curaçao, the Netherlands, and private investors.
However, no financial commitment has yet been made by the European Commission.
Before redevelopment can begin, authorities must obtain a clearer understanding of the environmental conditions in Buskabaai.
A new phase of environmental investigation is scheduled to start in November 2026, when Geotron Caribbean will conduct additional research into the underwater soil and sediment conditions in the area.
The investigation will involve 102 boreholes, with collected samples submitted for laboratory analysis.
The work follows an initial environmental assessment conducted in 2025 and is intended to provide more detailed information about the nature and extent of possible contamination.
The findings will help determine which environmental remediation measures are required before dredging and redevelopment can proceed.
They will also provide important technical information for preparing the project and estimating the costs of restoring the area.
At present, the total amount needed for the cleanup and redevelopment has not been announced.
The environmental investigation is therefore a necessary step before the authorities can establish a more detailed implementation plan and pursue financing for the required work.
CDM Holding sees the redevelopment of Buskabaai as closely connected to the planned modernization of Curaçao's shipyard.
The shipyard modernization program, known as CAPEX 2.0, carries a preliminary investment estimate of €105 million and is intended to improve aging docks, quays, cranes, and other facilities between 2027 and 2031.
Together, the two projects are intended to strengthen Curaçao's maritime infrastructure and create opportunities for additional industrial and logistics activities.
The proposed redevelopment could help the island expand its role in regional ship repair, offshore support, and related maritime services.
Particular attention is being given to opportunities associated with the growing offshore oil and gas industries in Guyana and Suriname.
These developments are generating demand for specialized vessels, maintenance services, logistics support, and other maritime activities across the Caribbean.
Curaçao hopes that improvements to its shipyard and surrounding industrial infrastructure will make the island more competitive in attracting such business.
The possibility of increased economic activity in Venezuela is also being considered as a potential long-term opportunity, although no specific projects or agreements have been announced.
CDM Holding Director Agustin Diaz Jr. has emphasized that major infrastructure investments require coordinated progress in technical preparation, commercial planning, and financing.
For Buskabaai, the immediate priority is establishing the environmental conditions and determining what must be done to make the area suitable for future development.
The project is being coordinated under the responsibility of Curaçao's Ministry of Economic Development.
While the visit by European Commission representatives represents progress in discussions about potential funding, the redevelopment remains in its preparatory phase.
The results of the November environmental investigation will be important in determining the scope of the cleanup, the investment required, and the next steps toward transforming Buskabaai into a productive maritime and industrial area.