Minister Robertson to Facilitate Due Diligence between Alcoa and Chinese Firm, Zhuhai Hongfan

Energy and Mining Minister, Hon. James Robertson is currently in China leading a technical team that will continue the due diligence process between Alcoa and Chinese firm Zhuhai Hongfan.
The entity (Zhuhai Hongfan) has signed an agreement with CAP to acquire the Government of Jamaica (GOJ) 45% shares, subject to the consent of ALCOA, the 55% joint venture partner, which has the right of first refusal.
It is expected that the Hong Fan initiative will represent the beginning of an expanded Chinese interest in Jamaica.
Minister Robertson is accompanied by the Chairman and General Manager of CAP, Messrs. Peter Millingen and Winston Hayden; Cheryl Lewis of the Attorney General’s Chambers and Glenford Watson, Senior Legal Officer in the Ministry of Energy and Mining. Alcoa’s interest in the discussions is being represented by Mr. Frank Feder, President of Alcoa Latin America and the Caribbean; John Fontechio, Legal Counsel; Julia Steyn, Director Corporate Development, and Mr. Jinya Chen, President of Alcoa Asia Pacific.