A major new project in the Exuma chain of the Bahamas is moving forward.

The $200 million Children’s Cay project is the brainchild of Dona Bertarelli, of one of the world’s wealthiest families, and is the result of a heads of agreement signed earlier this year.

The project is planned as an “eco-friendly ultra-luxury resort project,” according to Bahamas Prime Minister Perry Christie.

It will be located on the islands of Williams Cay and Children’s Bay Cay.

Christie said the plan is to “rejuvenate this northern seafaring settlement into a vibrant coastal town.”

The project will include a 50-room five-star resort on Children’s Bay Cay, with a private resort and 18-hole Tom Fazio Golf Course on Williams Cay.

Bertarelli also plans to establish a foundation to fund community improvements in the area of Barraterre, and that Exumians will contribute to this effort.

The project is part of a wider vision for the Barreterre area of Great Exuma that includes a town center with a police and fire station, a medical clinic, government administrative offices, a shopping center and a business district.

The public dock and its surrounding area will also be developed into a full harbor port.