JPS in talks with new bidder for Old Harbour plant
JPS is reporting that it is now in the final stages of negotiations with an alternate bidder to provide engineering, procurement and construction services, for the 190MW power plant to be built in Old Harbour Bay, St Catherine.
Shortly after JPS announced that its preferred bidder for the work was Abengoa, word came that the company was facing financial difficulties and was close to bankruptcy.
JPS says it has been closely monitoring the progress of the company’s restructuring plan.
However, the company says Abengoa has not been able to provide the financial assurances required as a normal part of the process of confirming a bidder.
As a result, JPS President & CEO, Kelly Tomblin says the company is very close to concluding key terms with an alternate bidder.
The Company will announce the new Engineering, Procurement and Construction (EPC) contractor, by the end of the month.