JIS News

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  • Finance and Planning Minister, Dr. the Hon. Peter Phillips, says six firms have expressed interest in acquiring the Norman Manley International Airport (NMIA) in Kingston.
  • Dr. Phillips, who was opening the 2015/16 Budget Debate in the House of Representatives on March 12, said it is expected that a preferred bidder will be chosen within the next six months.
  • Turning to the North-South highway project, Dr. Phillips informed that China Harbour Engineering Company (CHEC) has identified lands along the highway where the company intends to build three brand new hotels.

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says six firms have expressed interest in acquiring the Norman Manley International Airport (NMIA) in Kingston.

Dr. Phillips, who was opening the 2015/16 Budget Debate in the House of Representatives on March 12, said it is expected that a preferred bidder will be chosen within the next six months.

“This is to be approved by the Cabinet so that we can move to the Request for Proposal stage of the process,” he said.

In relation to the privatisation of the Jamaica Railway Corporation, the Finance Minister advised that discussion with North American company, HERZOG Contracting Corporation, is advanced “and their due diligence has commenced”.

As it regards the Kingston Container Terminal, Dr. Phillips said the matter is before the Cabinet and it is expected that the concession agreement will be signed in the first quarter of the next fiscal year.

Turning to other infrastructure developments linked to the expansion of the Panama Canal, Dr. Phillips advised that detailed technical and feasibility studies are being concluded by the investor team for the Portland Bight Development Project.

He said discussions are also ongoing with the Port Authority of Jamaica.

“It needs to be understood that a US billion-dollar project such as this doesn’t just happen without extensive studies, technical preparation and negotiation. An investment interest of this magnitude expressed a year ago would not have come to conclusion as yet,” he pointed out.

Turning to the North-South highway project, Dr. Phillips informed that China Harbour Engineering Company (CHEC) has identified lands along the highway where the company intends to build three brand new hotels.

The highway project, from Caymanas in St. Catherine to Ocho Rios in St. Ann, represents a US$600 million investment by the CHEC. The leg from Linstead to Moneague was opened in August 2014, and the segment from Caymanas to Linstead is scheduled to open this fiscal year.

The entire project is expected to be completed in 2016.