Tue | May 23, 2017

Opposition demands more info on impending Logistics Hub deal

Published:Thursday | April 16, 2015 | 4:13 PM

The Opposition is demanding that Investment Minister Anthony Hylton release further information on the impending deal between the government and an international engineering company set to pump US$5 billion in Jamaica’s Logistics Hub Initiative.

Yesterday, Hylton announced that a Memorandum of Understanding (MOU) will be signed with Krauck Sytems on Monday.

He said the New York-based, Anchor Finance Group is the lead financier for the investment.

However, Spokesperson on Investment, Karl Samuda, says an MOU cannot be signed unless full disclosure is made regarding the particulars of the investing entity.

 

Opposition Spokesperson on Investment, Karl Samuda

He explains that Jamaica will not be benefiting from the US$ billion investment.

 

Opposition Spokesperson on Investment, Karl Samuda

Yesterday, Hylton said the MOU will allow for detailed discussions to commence between technical representatives of Krauck and government technocrats.

He said the discussions will determine the specific projects, the roles and responsibilities of each party, and the procedures to be followed in developing and integrating the projects under the Jamaica Logistics Hub.