Govt to sell Windalco shares
Business
June 9, 2014

Govt to sell Windalco shares

KINGSTON, Jamaica – The government is to sell its seven per cent shares in West Indies Alumina Company Limited (WINDALCO) to Russian mining company UC RUSAL.

Minister of Science, Technology, Energy and Mining, Phillip Paulwell made the announcement in Gordon House Tuesday afternoon. Paulwell said that the parties have agreed on a purchase price of US$11 million.

He also explained that both parties acknowledged that the debt owed by government to UC RUSAL as of April 30 is US$21 million.

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