JIS News

Story Highlights

  • A high level delegation from Sinohydro Corporation Limited in China, will visit Kingston later this month, to conclude negotiations about the Harmony Cove Development project.
  • Dr. Phillips’ visit to China came against the background of an earlier visit to the Asian country by Prime Minister, the Most Hon. Portia Simpson Miller.
  • Harmony Cove is a 2,300-acre property on the Jamaican north coast, located 23 miles east of Montego Bay, St. James, and 44 miles west of Ocho Rios, St. Ann.

A high level delegation from Sinohydro Corporation Limited in China, will visit Kingston later this month, to conclude negotiations for the financing and equity investment of the Harmony Cove Development project.

This was disclosed by Minister of Finance and Planning, Dr. the Hon. Peter Phillips, during the sitting of the House of Representatives on Tuesday, February 11, as he gave an update on his visit to China from December 13 to 22, 2013.

Dr. Phillips’ visit to China came against the background of an earlier visit to the Asian country by a delegation, headed by Prime Minister, the Most Hon. Portia Simpson Miller, in August 2013.

The Minister said during the visit there was advancement of negotiations with respect to the Harmony Cove development.

“The Government of Jamaica indicated to the parties involved in the transaction that the Government was not prepared to wait beyond this year for the conclusion of arrangements with potential Chinese partners,” he told the House.

Harmony Cove is a 2,300-acre property on the Jamaican north coast, located 23 miles east of Montego Bay, St. James, and 44 miles west of Ocho Rios, St. Ann.

It is being developed into a resort to include several world class golf courses, a luxury spa, marina facilities, commercial developments, luxury hotels, private residencies, a hotel, casino, convention and entertainment centres, restaurants and retail assets.

Harmony Cove is expected to create a major economic surge on the north coast through direct and indirect job creation, tax revenue and a boost in foreign exchange inflows.