THE BELEAGUERED Downtown Kingston Transport Centre which has been losing millions since it was opened in 2011 could be in the hands of private investors soon.

Chairman of the Urban Development Corporation (UDC) K.D. Knight said negotiations were under way in relation to the transport centre.

Knight told The Gleaner on Monday that the Kingston and St Andrew Corporation (KSAC), which previously managed the facility, has handed the transport centre back to the UDC.

He did not provide details about the nature of the negotiations, whether it was geared towards divestment, lease arrangement or efforts to identify an entity to manage the transport centre.

"It is at a delicate stage," Knight said of the talks.

"It is alive and maybe not well (but) we are going to keep it alive," the UDC chairman said.

The transport centre has been operating below capacity for some time with one section designated for taxis only accommodating a few vehicles on a daily basis.