Opposition demands more info on impending Logistics Hub deal
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$5 billion in Jamaica’s Logistics Hub Initiative.
Yesterday, Hylton announced that a Memorandum of Understanding (MOU) will be signed with Krauck Sytems on Monday.
He said the New York-based, Anchor Finance Group is the lead financier for the investment.
However, Spokesperson on Investment, Karl Samuda, says an MOU cannot be signed unless full disclosure is made regarding the particulars of the investing entity.
He explains that Jamaica will not be benefiting from the US$ billion investment.
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.