Billion-dollar investments to bring new jobs

January 30, 2017
A section of the Kingston Container Terminal.

Economic Growth Council (EGC) member Adam Stewart says Jamaica stands to benefit from over US$3 billion in investment projects up to 2019.

This will create over 25,000 new jobs, with another 100,000 persons to benefit indirectly.

He noted that the projects, which are either under way or slated to come on stream, span several sectors, including mining, tourism, shipping, and business process outsourcing

Stewart said that among the undertakings is the US$1 billion investment in the upgrading of the Alpart Alumina Refinery in St Elizabeth by Chinese entity Jiquan Iron and Steel Company Limited (JISCo), which is expected to provide 3,000 permanent jobs.

There are also the US$750 million Bogue power plant in Montego Bay, upgrading of the Kingston Container Terminal, and construction of the US$70 million 150-room Breathless Resort.

Other projects include: Kingston Wharves Limited's opening of 150,000 square feet of space, and the Heineken Group's committal of 3,000 acres of land for cassava cultivation.

Stewart said projects on the verge of implementation include investments of US$1.4 billion in tourism across Jamaica, which will add 6,800 hotel rooms to the existing stock of 32,000, while providing 12,000 new jobs.

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