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JLP accuses Hylton of spinning 'web of confusion' over impending logistics hub investment

Published:Tuesday | April 21, 2015 | 1:10 PM
Karl Samuda

The Opposition is accusing Investment Minister Anthony Hylton of spinning a web of confusion regarding the handling of an impending agreement with an Austria/German company and its financiers proposing to pump US$5 billion into Jamaica's logistics hub initiative. 

Yesterday, an expected signing of a Memorandum of Understanding (MOU) did not take place as promised by Hylton.

There had been mounting pressure from the Opposition for further details about the deal and the entities, Krauck Systems and Anchor Finance Group. 

Hylton announced last week that Cabinet had approved the signing of the MOU. 

Following a Cabinet meeting yesterday, Hylton revealed that the MOU will be signed but after meetings with the ministers of Finance and Planning and Transport, Works and Housing.  

However, in a statement this morning, Opposition spokesman on Investment, Karl Samuda says Hylton has left the nation with more questions than answers.

He is demanding clarity on the role of the foreign companies whom he says have suggested they will be project managers and not investors and financiers as Hylton had announced. 

Samuda is insisting that the Government should not make any commitments unless the credentials of these bodies are established.

Hylton had also indicated that the MOU will allow for a 30-day due diligence and confidential period in which detailed questions can be asked and answered.

However, his Opposition counterpart says that provision is proof of Hylton's recklessness.