The America’s Cup village site will be handed over to the AC Event Authority five months ahead of schedule, MPs heard this morning.

The infill in Dockyard’s South Basin has taken in 310,000 cubic yards of material in the last few months, Grant Gibbons, the Minister of Economic Development, told the House of Assembly.

Dr Gibbons said the reclamation project required a ship larger than any that navigated the South Basin before.

The project is now going into its second phase with the installation of sheet pile walls.

Twenty local companies were involved in the infill with the main contractor, Cashman Dredging and Marine Contracting. Sixty local workers were employed.

“In addition, some 390 Bermudian workers have been gainfully employed in America’s Cup related projects in Dockyard, valued at over $4.9 million,” Dr Gibbons said.

Team members for the event, now less than 500 days away, number roughly 160 on the island at present, with more than 170 family members.

Since April 2015, Oracle, Artemis and Softbank Team Japan cumulatively spent more than $10.2 million on their team base operations.

• For Dr Gibbons’ statement in full, click on the PDF under “Related Media”.