Executive Vice- Governor, of Gansu Province in China, Huang Qiang, says his government is ready to invest up to US$6 Billion Dollars to develop an Industrial Park and Special Economic Zone alongside the JISCO/ALPART operations in Nain, St Elizabeth.
The announcement was made at the recent signing of a Framework Agreement and follows closely on the heal of a Non-Binding Agreement of Intent last year, between Transport and Mining Minister, Lester ‘Mike’ Henry and Governor of Gansu Province, Mr. Tang Renjian in China.
The size of the investment for this contemplated development is of major significance for both Jamaica and China, in that it is the largest investment ever contemplated in Jamaica and it’s the first overseas investment for Gansu Province.
It’s intended to move Jamaica from exporting raw materials to developing value added manufacturing and fabrication industries, led by the Bauxite/Mineral Sector.
Jamaica and China have both agreed that the political, administrative and procedural preliminary activities will begin immediately, in order to be able to announce the next phase when the parties meet in China in September.