Clive Fagan, chairman of the Factories Corporation of Jamaica (FCJ), says development of the first phase of the Caymanas Economic Zone (CEZ) will begin in the first quarter of 2013.
Simultaneously, work is expected to begin in Naggo Head, Portmore, on an information and communications technology (ICT) centre.
The CEZ, slated for light industry, is also expected to facilitate ICT, as well as business process outsourcing at a 200-acre site.
Fagan declined comment on the indicative cost of the projects - to be done as public-private partnerships (PPP) - saying the bids to be invited would, ultimately, determine the price tag.
However, timelines for public tender have not yet been decided.
"With regard to projected cost, these are numbers we cannot now send out as potential developers will be doing their own costing and will be making individual submissions for evaluation," Fagan said Tuesday.
"Requests for proposals will be invited and evaluated as soon as the PPP framework is in place," he said.
The Factories Corporation of Jamaica is an agency of the Ministry of Industry, Investment and Commerce, and is the largest provider of industrial space in Jamaica, with approximately 175,000 square metres of space under management.
The 200 acres for the first phase of CEZ was acquired from the Urban Development Corporation, the agency spearheading the 10,700-acre CEZ project. The 200 acres were priced at J$900 million. FCJ made a downpayment of 10 per cent or J$90 million on the property in 2011 and is expected to pay off the rest over two years.