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JISCO completes acquisition of ALPART

Friday, September 22, 2017

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KINGSTON, Jamaica — Transport and Mining Minister, Lester 'Mike' Henry is today reporting the signing of three agreements with Jiuquan Iron & Steel Company (JISCO) in China, which effectively finalises the acquisition of the ALPART bauxite plant by JISCO.

The agreements are the Establishment Agreement, the Fiscal Regime Agreement and the Agency and Land Use Agreement, a release from the ministry said.

These documents outline the agreements between the Government of Jamaica and JISCO, relating to its ownership, operation and build-out of the ALPART alumina works at Nain, St Elizabeth.

Henry said the signing of the three agreements formally unlocks the inflow of at least an additional one billion US dollars in investment and the creation another 800 direct and high paying jobs.

Henry and the delegation to China are scheduled to return to the island next week.

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