KINGSTON, Jamaica – The Government has made an agreement with Terminal Link/CMA CGM Consortium, for the privatisation of the Kingston Container Terminal (KCT).

Prime Minister Portia Simpson Miller made the announcement in the House of Representatives today, during her budget presentation. She informed that Cabinet yesterday gave approval for the Port Authority of Jamaica to sign the agreement. This is scheduled for April 7.

Simpson Miller said the arrangement is a long-term concession, which will include the expansion, financing, operation, maintenance, and transfer of the terminal.

“The agreement contemplates dredging, optimisation and expansion of KCT in two phases, which will include dredging of the ship channel, turning basin and some berths to accommodate post-Panama vessels. Phase one also contemplates significant civil works to retrofit and deepen some areas of the berths,” she explained.

The Government started negotiations with Terminal Link in October 2014. The negotiating team, led by former Governor of the Bank of Jamaica, Derick Latibeaudiere included: President of the Port Authority of Jamaica, Professor Gordon Shirley; Chief Executive Officer of the ICD Group Limited, Peter Melhado, and Permanent Secretary in the Ministry, Audrey Sewell.

Terminal Link is jointly owned by CMA/CGM and China Merchant Marine.

Alphea Saunders