injected into Bermuda's economy under the winning plan to develop an old military base.

Yesterday it was announced that British-based Renaissance Resorts International Ltd. had won the bid to develop the 250-acre Morgan's Point -- the largest development seen in Bermuda.

The scheme includes a championship golf course, a community "village'', housing, marina and a cottage colony.

It is expected that the $250 million project will create 220 jobs in the first two years of development and secure 350 more long-term jobs.

Renaissance trades locally as Morgan's Harbour Investment Ltd. and last night its largest local shareholder Edward Lawrence said: "We are very enthused about this. We are all happy it worked out the way it did.'' Mr. Lawrence declined to comment in detail about the scheme saying further announcements would be made today.

But he added: "This is an incredibly exciting project. It will be a lot of fun and I think everyone realises how important it is for Bermuda.'' Renaissance defeated the other shortlisted team, BEAM, and its boss Alan Burland said: "They must have an incredibly good scheme.

"We spent four years working on this project with some of the best consultants in the world. To beat us, their project must be sensational.'' Mr. Burland, who runs BCM McAlpine, added: "Of course, it is very disappointing, although it has been a tremendous experience to work with the members of our group.

"There is no point crying. We work in a competitive business, but this was hard on our companies and hard on our families.'' Renaissance will be the master developer with Tractebel Development of Belgium having responsibility for construction management.

Local partners include Mr. Lawrence, Arthur Morris, James Pearman, Robert Tucker, David Hamshere and Geoffrey Dodsworth.

Bermuda firms taking part include architects OBM, Design Ltd. and Context Ltd., accountants Deloitte and Touche and lawyers Milligan, Whyte and Smith.

Yesterday's announcement was made by the Bermuda Land Development Company which is charged with attracting developers for the old Base lands.

According to the BLDC, development will be split into two phases with the first beginning this year and including coastal protection works, installation of electricity, water, telecommunications and sewage treatment facilities.

It will also include completion of the golf course, public parks, formation of islands, part of the marina and part of the village centre -- including turning Tucker House into a village hall.

Work will also involve a full environmental clean-up "to Government of Bermuda standards''.

The golf course will be PGA championship standard and designed by "one of the world's best golf architects''.

Housing will be built at the end of phase one, in 1999, at the end of the peninsula and will involve a range of homes including some for the first-time buyer.

The announcement ended a seven-month evaluation process of five original development teams.

It was one of the "most comprehensive and technically rigorous evaluations ever undertaken in Bermuda'', according to a spokesman for the BLDC directors.

He added: "The directors were impressed by the team's strong leadership and clear thinking which this complex project will require. All team members had a clear understanding of their roles and responsibilities.

"The research by Renaissance into all aspects of the project demonstrated the kind of attention to detail that will be critical to its success.

"As directors, we were impressed by all of the proposals submitted for Morgan's Point. However, the nature of the exercise was such that only one team could be successful.

Morgan's Point "We selected Renaissance because of its strong leadership, team cohesion and financial capability to build its exceptional resort plan.

"It will transform a manifestly derelict site into a place that will strengthen Bermuda tourism, create jobs, increase business opportunities and enhance community life and recreation.'' BUSINESS BUC