China Harbour eyes mega investment

China Harbour Engineering Company has shelved plans to develop a new trans-shipment port at Fort Augusta and is now eyeing the establishment of a massive industrial park in Jamaica.

Prime Minister Portia Simpson Miller said yesterday that the company had radically expanded the scope of its projected investment interest in the island.

Preliminary estimates of what is being described as a mega-investment are between US$1.2 billion and US$1.5 billion. It will consist of trans-shipment facilities, a logistic centre, industrial plants, a cement plant and perhaps a power plant.

Simpson Miller said the project would be implemented over a five-year period and during the construction phase, some 2,000 persons would be employed.

After its completion, the industrial park is expected to employ approximately 10,000 workers.