Its Final!….JISCO Complete

Story Highlights

  • Transport and Mining Minister, Lester ‘Mike’ Henry, signed three (3) agreements with Jiuquan Iron & Steel Company (JISCO) in Jiayuguan China this morning, which effectively finalizes the acquisition of ALPART by JISCO. These are the Establishment Agreement, the Fiscal Regime Agreement and the Agency and Land Use Agreement.

Transport and Mining Minister, Lester ‘Mike’ Henry, signed three (3) agreements with Jiuquan Iron & Steel Company (JISCO) in Jiayuguan China this morning, which effectively finalizes the acquisition of ALPART by JISCO. These are the Establishment Agreement, the Fiscal Regime Agreement and the Agency and Land Use Agreement. 

These documents outline the agreements between the Government of Jamaica and JISCO, relating to its ownership, operation and build-out of the ALPART alumina works at Nain, St. Elizabeth.

Minister Henry says, the signing of the three (3) agreements formally unlocks the inflow of at least and additional One Billion US dollars in investment and the creation another 800 direct and high paying jobs.

Meanwhile, The Deputy Director, State-Owned Assets Supervision & Administration Commission of the Gansu Provincial Government, Che Hong, says the Government of China and the Government of China’s Gansu Province fully supports JISO’s acquisition of ALPART. He also says he is particularly pleased about the additional investments that JISCO would be making at ALPART, as they seek to further expand the relationship with the Jamaican Government and provide well needed investments for the growth and development of the Jamaican economy.

Minister Henry and the delegation to China return to the island next week.

JIS Social