Auto

5| NROCC loses $6.5B

Friday, January 05, 2018

Print this page Email A Friend!


National Road Operating and Constructing Company Limited (NROCC), the public company representing Jamaica's interest under the concession agreement for Highway 2000, declared a loss of more than $6.5 billion in 2015/16.

In a report tabled in Parliament in June 2017, NROCC's board of directors reported a loss of $6,584,389,000 for the financial year ended March 31, 2016.

The board also noted that NROCC continued to have no revenues, as shown in the five-year financial review.

The report's tabling in the House of Representatives on June 13 followed reminders that negotiations were underway between the Government and operators of Highway 2000 East-West over the annual rate increases, which are due on the first Saturday of July each year.

This is set out under the 35-year concession agreement with TransJamaican Highway Limited.

ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT