Jamaican investors playing major role in shipyard project
Dear Editor,
Your editorial of Sunday, January 29, 2023 entitled ‘Shipyard project a worthy venture’ was a very positive article and I thank you for the many supportive things you have said.
However, you omitted to mention an important point that I think the Jamaican public would like to know, which is that the majority of the capital of US$18,000,000.00 ($2.77 billion) has been raised by Jamaican investors, including the Pan Jam Group, Jamaica Broilers Group, the UWI Pension Fund, JPS Pension Fund, Shipping Association of Jamaica, SAJE Logistics Infrastructure Limited, Jamaica Fruit and Shipping Company Ltd, and Maritime and Transport Services Ltd. This is in addition to the tremendous support Sagicor Bank has shown by proving loan financing.
In addition, SEAF Caribbean Management LLC, while not Jamaican, has been established by the Inter-American Development Bank to support projects in the Caribbean and have invested in the project.
The companies and institutions named above demonstrate the support Jamaican investors are willing to give new ventures, and show the faith that the private sector has in Jamaica.
Charles Johnston, CD
Deputy chairman
German Ship Repair Jamaica Limited