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Davies seeks to renegotiate bus loan
2012-04-05 08:43:44 | (0 Comments)
Livern Barrett, Gleaner Writer
JUTC buses - file photo.
Transport Minister Dr. Omar Davies is to attempt to renegotiate a loan agreement to purchase 230 buses amid concerns about the financial situation at the Jamaica Urban Transit Company (JUTC).
The transport minister is to lead a delegation to Brussels on Monday to seek to have the loan agreement adjusted.
The JUTC is reportedly losing approximately $58.5 million per month because of an inadequate fleet.
The JUTC said the new buses are being purchased for use in the Kingston Metropolitan Region.
However, in a statement last evening, the Transport Ministry said the re-negotiation of the loan is being sought because some aspects of the original plans are being changed.
The ministry said some of the changes include the type of buses to be imported and the construction of two workshops to facilitate the JUTC’s expansion into the rural areas.
The transport ministry said the current financial situation at the State-owned bus company demanded the reassessment of those plans.
Other members of the delegation that will travel to Belgium from April 9 to 11 include JUTC board chairman, Garnet Roper and the Managing Director Rear Admiral Hardley Lewin.
Source: The Gleaner/Power 106 News
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