Thu | Oct 19, 2017

Hylton: Proposed Krauck Systems initiative will not end up like EWI debacle

Published:Wednesday | April 22, 2015 | 3:28 PM
Anthony Hylton

Investment Minister, Anthony Hylton, says the proposed US$5-billion investment in the logistics hub initiative by two foreign companies, will not end up like last year’s botched process to build a major energy plant.

The Government last year terminated its process to have Energy World International (EWI) construct a plant to supply Jamaica with 360 megawatts of energy.

However, speaking on Independent Talk on Power 106 FM this morning, Hylton said the process involving Krauck Systems and Anchor Finance Group LLC will not end up like the EWI debacle.

According to him, that is why the government has signed a non-binding Memorandum of Understanding (MOU) to demand further details of the proposal before any more concrete steps are taken.

 

Industry Minister, Anthony Hylton

Hylton has been accused of being reckless and confusing the public in the handling of the MOU which was signed yesterday, a day later than he promised.

And the Opposition, civil society groups and individuals on social media have questioned the credibility and history of the two companies.

However, Hylton says while the public has a right to question, it cannot expect to get all the information it wants immediately.

He is rejecting criticisms that the required due diligence was not done before the announcement and signing of the MOU.

 

Industry Minister, Anthony Hylton

Krauck Systems and Anchor Finance Group LLC are required to provide reasonable feedback within a 30-day period after signing the non-binding MOU.