KINGSTON Wharves Limited got approval for free zone status of the port area from the Ministry of Industry and Commerce.
The cargo handler plans to build an “all-in-one, global logistics complex with Special Economic Zone benefits”.
This will enable the company to “offer a level of service to cargo consolidation and freight forwarding customers not seen in Jamaica before”, according to the company’s latest annual report.
The cargo handler, which is undertaking an expansion to make room for additional cargo after the Panama Canal expansion is complete (now expected to be in 2016), had raised $1.8 billion by selling a 25 per cent stake in the cargo handler to Jamaica Producers Group (JP), at the beginning of 2012, to finance the project.
Published in the Jamaica Observer
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