Recent eruptions in the financial sector were not enough to rock the government of Jamaica’s ship off it is prosperity course. These sentiments were laid out by Prime Minister Andrew Holness, as he took jabs at critics of his administration amid the recent SSL scandal.
He was addressing stakeholders at the German Ship Repair Jamaica and Sagicor Jamaica launch for a multi-billion-dollar ship repair and maintenance facility at Kingston Harbour. The project is expected to create exponential economic opportunities for Jamaica and the region for years to come. The first phase of the shipyard, which will feature a floating dry dock along with steel fabrication and engine workshops as well as the significant infrastructure upon completion, comes at an overall cost of over USD 37 million nearly JMD six billion, with Sagicor Bank committing to over half of this amount as a bank loan and being lead arranger of the project.
Prime Minister Holness asserts despite the worst predictions by some the sky is not falling. However, he hastened to caution those seeking to ride the waves of misinformation and others investing without the facts. The ship repair facility, which is expected to be completed between October and November this year, is anticipated to pull its customers from the 3000 commercial vessel calls that visit Jamaica’s ports annually.
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Reporter: Neika Lewis
