5| NROCC loses $6.5B

Friday, January 05, 2018

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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.




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