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Cabinet has given approval for the Ministry of Transport and Works to sell lands owned by the Jamaica Railway Corporation (JRC) which are not required for the operation of the railway. The estimated value of the lands is J$445.6M.
Minister with responsibility for Information, Daryl Vaz said the provision of railway facilities and other services to West Indies Alumina Company (WINDALCO) and the bauxite sector in general, have been the key revenue earning activities of the JRC since the closure of the railway in October 1992.
He said the present crisis in the bauxite sector has crippled the ability of the JRC to operate as a self-financing entity and the Corporation has been further affected by the decision of WINDALCO to suspend its operations for 18 to 24 months with effect from March 1, last year.
Minister Vaz was speaking at the weekly Post cabinet Press Briefing yesterday (March 3). He said the Ministry of Transport and Works is empowered under the Jamaica Railway Corporation Act to dispose of the JRC’s property.