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Kingston Container Terminal divestment update soon - Davies

Published:Thursday | March 5, 2015 | 9:48 AMNews Editor Gleaner/Power 106 News Centre
Dr Omar Davies.

Transport and works minister Dr Omar Davies says he will be making an announcement in another three weeks on the progress of efforts to divest the Kingston Container Terminal (KCT).

Last October, Davies announced that a team led by former central bank governor Derrick Latibeaudere was negotiating with, Terminal Link Consortium, which is the provisional preferred bidder.

At the time, he said he was giving the negotiating team one month to determine if an agreement can be reached with the consortium.

Last month the Shipping Association of Jamaica said it was concerned about the missed deadlines to divest the KCT and demanded that the Government provide an update on current negotiations.

Questioned on the matter during the Standing Finance Committee of parliament yesterday, Davies said he would make an announcement soon.

Meanwhile, Davies says the sole bidder for the Jamaica Railway Corporation is to get back to the Government with a proposal during this month.

He says the consideration is whether all the assets will be sold as one or be broken up:

 

Transport and Works Minister, Dr. Omar Davies.