PYONGYANG, North Korea (AP) -- North Korea said that it had executed Kim Jong Un's uncle as a traitor for trying to seize supreme power, a stunning end for the leader's former mentor, long considered the country's No 2 official.
In a sharp reversal of the long-held popular image of Jang Song Thaek as a kindly uncle guidin ...more »
The price tag for the Fort Augusta port development is estimated at over $23 billion.
The plan for the project, which is aimed at dredging the harbour to accommodate much larger vessels and reclaim, or build 50 hectares of land for container storage, presently calls for construction to take place between next January and April 2015.
Indeed, after China Harbour Engineering Company (CHEC) made public that it would not proceed with plans to establish a new trans-shipment port at the peninsula, now home to female prisoners, the timeline for development may be pushed back.
But the idea is to improve Kingston Container Terminal's competitive advantage and enable the port to serve as a trans-shipment hub for draught-restricted ports of the US East and Gulf Coast, following the completion of the Panama Canal expansion.
"The project could cost in the region of US$160 million ($16.8 billion) depending on the condition of the material to be dredged," said an environmental impact assessment report prepared for Mott MacDonald and Port Authority of Jamaica. "The land reclamation will create 50 hectares of land on which a container terminal will be developed. It is anticipated that this container terminal will have a capacity of approximately two million twenty-foot equivalents (TEUs)."
The terminal is estimated to need approximately 800 to 900 workers "largely drawn from the local market" to operate it, and construction and operation costs of $7 billion. At current exhange rates that places the overall project above $23 billion.
Dredging involves removing 15.7 million cubic metres of material from the sea floor, or more than 10 times the amount extracted to develop the Falmouth cruise terminal in Trelawny.
Approximately four million cubic metres of the material would then be used for reclamation of the Fort Augusta peninsula and producing 50 hectares of container storage areas and berth apron.
A one kilometre-long berth is also to be constructed. "When completed, the channel will accommodate vessels with an approximate capacity of 13,000 TEUs with a maximum draft of 15.2 metres, a maximum ship length of 366 metres and beam of 48.8 metres," said the EIA report.
The idea is to improve Kingston Container Terminal’s competitive advantage
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