Three prequalify for KCT

KCT, the island’s main seaport and one of the region’s leading container transhipment ports with a capacity of 2.8m teu, is to be privatised by way of concession.  The bank is now conducting due diligence on behalf of the government, with the successful bidder being announced in the late spring of 2014.

In August 2011 CMA CGM signed a 35-year lease agreement with the Jamaican government to invest US$100m in infrastructure improvements, with a view to employ 1,000 staff.  However, this agreement is separate from the proposed privatisation.

At present, KCT has 19 ship-to-shore gantry cranes, of which four are super Post-Panamax, with further development expected to facilitate post-Panamax container vessels up to 12,000 teu capacity.