(MV) — Family-owned full service construction and development company, Pacific Rim, sees great potential for the CNMI to emerge from the Covid-19 pandemic a stronger and more diversified community.
According to Pacific Rim president, Keith J. Stewart, this effort to explore the development potential of the CNMI came during the onset of the global pandemic.
“As soon as the international flights ceased, it was not hard to predict the wider impacts the loss of tourism would have on this community,” said Stewart, looking back. “Thankfully, the CNMI government took all the right steps to keep these islands safe through it all, but it certainly highlighted the need for greater resiliency in the economy.”
Shortly after, Stewart built a team to look into alternative industries that can emerge from the pandemic to support employment, economic growth, government revenue and our security.
For Stewart it was a personal commitment to the islands.
“I made the decision to make Saipan my home nearly four years ago. I have seen such great potential in these islands. Over the last year, with the pandemic and the slump in the economy it caused, my company took a hard look around to see where the opportunities were to help these islands reach their potential,” he said.
The team pursued a range of options, reached out to international investors and experts to cultivate the feasibility of various industries
“We brought on board a team to look at the various options for diversification from across the spectrum. We tried and pursued various ideas like manufacturing, tech and healthcare and kept coming across the same bottleneck,” Stewart said.
That bottleneck the team came across was transportation.
Stewart explained: “We explored various types of manufacturing. Taking components of a supply chain and building a logistics network on Saipan to support a value added component here. However, we quickly learned that it would be cheaper to transport the same quantity of goods from Florida to China than it would to transport it from Saipan.”
“So, to build the infrastructure for a more diversified set of industries, we had to look deeply into how we can bring greater investment into the transportation sector in the CNMI for both freight and passengers,” Stewart added.
Investing in NMI’s first international airline
Pacific Rim has brought on board a team of from Australia with more than 240 years of combined airline experience to run through the numbers and create a plan for an airline that would be based and serve the CNMI.
“Initially, the plan was for a freight aircraft,” Stewart explained. “However, when we and the aviation experts on our team looked at the numbers and the global environment, it became clear that there was a market to expand service to build out full passenger and freight service for the CNMI.”
“So, we spent close to a year, doing the research and putting together the plans for Marianas Pacific Airlines to provide stability, and affordability on air service to the Commonwealth that would be operated by seasoned airline professions with a specific interest in supporting the needs of the CNMI,” he added.
One of the key factors that makes this possible, according to Stewart, is the disruptions to the international travel market caused by the pandemic.
“We see a great deal of opportunity here and Neil Hansford, chief executive officer for Marianas Pacific Airlines and a premier airline expert, has been working hard to establish the Australian market for the CNMI’s tourism makeup.”
Said Stewart: “Australia has an incredible demand for destinations like the CNMI and represents a real opportunity to build a new market for the Commonwealth.”
“The figures work,” he added. “We have the right team, a steadfast commitment to the Commonwealth, and a real interest in making this a reality, not just for the Australian route.”
According to Stewart, the plan is to provide air service between Japan, South Korea, the Philippines, and Australia, with expansion opportunities that would support additional routes in the future to include direct service to Hawaii.
For Stewart, the development of a CNMI-based airline is one component of a larger effort for the local economy.
“There is a lot of work and investment that needs to be made to improve inter-island traffic options, port improvements and general infrastructure upgrades, but this is a wonderful community, and I am proud to call it home, so I am willing to do my part to see it prosper,” he said.
Over $1 billion in completed projects to date
Keith Stewart has started up and completed a wide variety of construction, development and program management projects across the United States that exceed $1 billion. He has extensive experience in all facets of a project’s development from start-up, site selection, proformas, budgeting, team formation, financing, design, construction and operations. Stewart has worked closely with a variety of corporate clients on a wide range of project types under various contracting methods including design-build, CM/GC, program management and fixed price.
Stewart’s experience includes the Dusit Thani Hotel on Guam, Isa Villas Housing (Phase I and II) on Saipan, Hilton San Diego Bayfront Hotel in California, Mamizu Utilities and Site Improvements Phase 1 on Guam, Ironwood Housing (Phase I and II) on Guam, and Barona Valley Ranch Resort & Casino in California, among others throughout the United States, Caribbean, Guam and the CNMI.
Pacific Rim wants to invest in the CNMI’s first international airline.
