MINISTER of Transport, Works and Housing Dr Omar Davies says there is no likelihood of China's proposed Goat Islands investment coming on stream within five years.
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| Dr. Omar Davies |
"The port is not expected to be engaged in trans-shipment activities for several years yet," Dr Davies told the House of Representatives, in a statement on Tuesday.
"It will require time for technical development after the signing of the implementation and concession agreements prior to the start of construction, and another period for construction," he stated.
"Assuming that the agreements will be concluded about a year from now, the port will not be in operation for approximately four years. It is also expected to be limited in scope at the start," he added.
Davies, who was speaking on the issue of competition between the Chinese proposed development, and the planned privatisation of the Kingston Container Terminal (KCT), noted that, on the other hand, the KCT concessionaire will be acquiring a going concern with excess capacity and with the ability for that capacity to be expanded within a short time frame through changes to the equipment at the terminal. more
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