Divestment of Kingston’s biggest terminal concluded

The divestment of Kingston Container Terminal (KCT) in Jamaica has been completed as a Terminal Link/CMA CGM consortium assumed operations of the facilities from July 1, local media reported.

The news followed the financial closure of a concession agreement for KCT between the Port Authority of Jamaica (PAJ) and Kingston Freeport Terminal Ltd (KFTL), a local company established by the consortium with the sole scope of acting as the signatory to concession.

The agreement includes a 30-year concession giving KFTL the right to finance, expand, operate and maintain the KCT, as well as transfer it at the end of the concession period.