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Enterprise team set up to oversee Port of Kingston privatisation
2013-03-11 10:20:02 | (0 Comments)
The Government has established an enterprise team to spearhead the privatisation of the Port of Kingston.
The facility is being privatised as part of efforts to develop Jamaica as a global transshipment and logistics hub.
The move is particularly geared at positioning Jamaica to take advantage of the anticipated increased maritime activities related to the expansion of the Panama Canal, which is slated for completion in 2015.
Industry and Commerce Minister, Anthony Hylton has indicated that unsolicited tenders for the operation of the facility have already been received from several global shipping interests.
The development of the hub is expected to cost about US$8 billion.
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Source: The Gleaner/Power 106 News
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