SAN JUAN – The Jamaican government expects to sign on Monday a $5 billion Memorandum of Understanding with two foreign companies to develop logistics-related infrastructure projects.
In a statement, Industry, Investment and Commerce Minister Anthony Hylton identified the potential investors as Krauck Systems and Anchor Financial Group.
Both enterprises are interested in the development of projects “related to the Global Logistics Hub.”
“(They) are proposing to engage under the MoU with the Jamaican government to discuss an integrated approach to the logistics hub,” Hylton said.
“This, I believe, is the real significance of this approach and why in excess of US$5 billion is what is being discussed and necessary if we are going to deliver the logistics hub, not only on time, but in the manner to make sure that it works effectively,” the minister added.
The signing of the concession agreement for the Kingston Container Terminal was a clear indication to the potential investors of Jamaica’s readiness for the logistics hub, according to the ministry.