Wed | Nov 29, 2023

Vernamfield aerotropolis getting strong interest from overseas investors - Shaw

Published:Saturday | July 15, 2017 | 10:40 AM

The government is reporting strong interest from overseas investors toward the development of the multibillion-dollar Vernamfield Aerotropolis in Clarendon.

Finance Minister Audley Shaw says there has been at least three expressions of interest from investors out of China and Europe so far.

According to Shaw, the international investors have indicated a willingness to pump between US$2 billion and US$3 billion into the mega development that is expected to transform the southern Clarendon belt.

Transport Minister Mike Henry had indicated earlier that several local investors have also expressed interest in the development to be done at the former army base.

As part of the aerotropolis for Vernamfield, Henry said the aerodrome operations at Tinson Pen in Kingston would be relocated there, as well as the Air Wing of the Jamaica Defence Force.

He said other entities involved in logistics, cargo transshipment as well as repairing of airplanes would also set up operations at Vernamfield.

The government has not given a cost or timeline for the start of the aerotropolis development.