China plans to Invest up to $1.5 Billion in Jamaican Transshipment Port

Port of Kingston

China plans to Invest up to $1.5 Billion USD in Jamaican Transshipment Port

According to Prime Minister Portia Simpson Miller, China Harbour Engineering Company Limited and its parent company, China Construction and Communications Company, will invest between $1.2 and $1.5 billion USD in the development of a transshipment port in Jamaica.

Although China and Jamaica signed a Memorandum of Understanding locating the project in Fort Augusta last year, the location of the new investment has not yet been determined.

Simpson Miller said Tuesday in the House of Representatives that the project, “It will consist of transshipment facilities, a logistics Center, industrial plants, a cement plant and perhaps a power plant.”

The revised project will be “radically expanded” compared to the initial Fort Augusta project, Simpson Miller said, as Fort Augusta could not provide the necessary space.

The project is a very significant development for Jamaica. It would be completed over a five-year time period and could employ up to 2,000 people during construction, and would employ around 10,000 workers after completion, Simpson Miller said.

Most importantly, Simpson Miller said, “It will be a non-negotiable requirement that the majority of these workers will be Jamaican nationals.”

read the full story here