The Development Bank of Jamaica (DBJ) has advised that the Government of Jamaica (GOJ) is committed to selling its stake in the Jamaica Public Service Company Ltd (JPSCo), the island’s sole power distributor. However, timelines for the divestment project and method of sale are not yet determined.
JPSCo, which has assets of near US$1 billion and saw revenues of US $759.82 million in 2015, is owned 19.9 per cent by the GOJ.
Other shareholders are MaruEnergy JPSCO 1 SRL and EWP (Barbados) 1 SRL, each holding 40 per cent interest, and private individuals with 0.1 per cent.
The DBJ, which is home to the government’s divestment unit, said Friday that the GOJ had taken a policy decision to “divest itself of these types of commercial assets once the opportunities arise.
Published in the Observer
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