Preparations Well Advanced for Caymanas Economic Zone

Preparations are well advanced for the establishment of the Caymanas Economic Zone in St. Catherine, with development expected to begin within a few months, with a view to begin employing persons, particularly in the Information and Communication Technology (ICT) industry, within two years.
Minister of Industry, Investment and Commerce, Karl Samuda, who made the disclosure at yesterday’s (November 12), post-Cabinet press briefing, at Jamaica House, described the project, which is estimated to cost US$2.5 billion initially, as a multi-sectoral effort, that incorporates agencies, such as the Urban Development Corporation (UDC), the Ministry of Agriculture, the Ministry of Transport and Works, and the Ministry of Industry, Investment and Commerce, which has responsibility for coordination and management.
Mr. Samuda stressed that the site “offers tremendous advantage, and is, perhaps, the finest location in the entire region for the development that we plan.”
He explained that initially, permission was given to utilise 500 acres of the Caymanas estate, on the southern side of the Ferry Police Station, going toward Highway 2000. “We will now be expanding that to 1,000 acres, and it will stretch across on the northern side of Mandela Highway. In addition to that, we are looking at even more acreage, to incorporate developments for residential and recreational purposes. Eventually, we may very well end up with an overall development in that area, of over 2,000 acres,” he pointed out.
The project entails the build-out of units that will service the ICT industry, the services industry, and provide warehousing and light manufacturing, such as agro-processing. “So far, studies have been undertaken and working in collaboration with the UDC, the Port Authority and the Ministry of Agriculture, we have engaged the process of undertaking impact assessment studies, looked at drainage studies, sewage system and the whole question of potable water, and we have undertaken a traffic impact study,” the Minister informed.
He said that it is intended eventually, that the Tinson Pen aerodrome would be relocated to a site adjacent to the economic complex.
There will also be a railway leg that will lead to the port, which Mr. Samuda said, is critical to the overall development. “Whilst this development is taking place, integral to all of this is the development of the port, linked to the Caymanas Economic Zone. The port facility offers the greatest opportunity for investment, because we happen to enjoy one of the finest ports in the world, which can be utilised to a much greater extent. It is one of the most attractive locations for business and economic development.”
Mr. Samuda disclosed that the development has already attracted the interest of two Chinese entities, which have expressed a desire to engage us in the development of this project.
“One is very determined to expand it even beyond the 2,000 acres. They wish to engage a massive project that would incorporate all the various features mentioned, but also would be involved in building out warehouses to serve as showrooms for goods manufactured in China, where buyers from the region, South America, North America and even as far as Europe, would come to this location and place their orders. Associated with that would be the development of light manufacturing, which would create employment,” he said.
“Our real interest is to ensure that whomever is engaged in this process, would establish manufacturing activities and other job-creating facilities, such as the ICT industry. We estimate that when this is built out, we will see the creation of some 10,000 jobs,” the Minister argued.
It is intended that the project will be a joint venture between the public and private sectors, under which the Government will provide, not sell, the land, Mr. Samuda said, adding that for its input, the Government would focus on infrastructural development, “and the actual buildings, we would engage the private sector in that.”
“I might also add that whilst we are speaking with interested partners in this venture, we have also approached local investors, who have met with us and have indicated great interest,” the Minister noted.
Mr. Samuda emphasised that the ICT industry is one of the primary targets of the project, because it offers the greatest potential for job creation, in the short term. “In that regard, we have invited the private sector to see in what way they can partner with us in the project, by building structures that would accommodate the ICT industry, in particular. This is in addition to the initiatives that we have started in Naggo Head, where we will be building out new facilities in that area to accommodate the ICT industry,” he said.