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Gov't clarifies comments on impending closure of Pan Caribbean factory

Published:Wednesday | March 23, 2016 | 7:46 PM
Education and Information Minister Ruel Reid and Health Minister Dr Christopher Tufton at a Jamaica House press briefing Wednesday.

Education and Information Minister Senator Ruel Reid has sought to clarify that the Government is seeking private sector investment specifically for the ailing Monymusk division of the Chinese-owned Pan Caribbean Sugar Company.

On Tuesday, Reid said that the company had accumulated losses amounting to US$60 million resulting from a 40 per cent decline in the price of sugar on the world market.

He also said the Chinese-owned company would close its operations in June this year.

However, in a release this evening, Reid said there was no indication from Pan Caribbean Sugar Company that it was closing all its sugar operations in Jamaica.

Pan Caribbean Sugar Company also operates two other sugar factories in Jamaica, Bernard Lodge in St. Catherine and Frome in Westmoreland.