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Tue June 22 2021

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China to invest $1.2bn in new Jamaican port

2 May 13 China Harbour Engineering Company Limited (CHEC) is set to invest between US$1.2bn (£770m) and US$1.5bn (£964m) in the development of a trans-shipment port in Jamaica.

Prime minister Portia Simpson Miller
Prime minister Portia Simpson Miller

The location for the terminal has not yet been determined. The Port Authority of Jamaica and CHEC had signed a memorandum of understanding (MOU) almost a year ago, for the international engineering company to explore the feasibility of establishing a new trans-shipment port at Fort Augusta. However, CHEC has since indicated to the authority that it has radically expanded the scope of its projected investment, and based on this, Fort Augusta was not big enough to provide the necessary space.

This has necessitated an extension to the MOU, which will be in force for another year, to allow for the relevant studies to be conducted, including environmental assessments.

Jamaica’s prime minister Portia Simpson Miller said that the investment will be a direct investment of CHEC and Fortune 500 parent company, China Construction and Communications Company (CCCC). "It will consist of transshipment facilities, a logistics centre, industrial plants, a cement plant and perhaps a power plant,” she said. “The extension to the MOU, signed by CHEC and the Port Authority, will run for another year to allow for all the relevant studies to be conducted, including environmental assessments.” 

The project is to be implemented over five years, and employ 2,000 people during the construction period. When completed, the industrial park will employ approximately 10,000 workers.

“It will be a non-negotiable requirement that the majority of these workers will be Jamaican nationals,” said the prime minister.
 

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