Jisco backed industrial park in Jamaica to start construction in January

The phased construction of the Jamaica-Gansu Industrial Park, the island's first Special Economic Zone (SEZ) is expected to start next January, Government minister Mike Henry said this to the Jamaican House of Representatives last Wednesday. Jiuquan Iron and Steel Company (JISCO) that operates the Alpart alumina refinery in Nain, St. Elizabeth has announced investment of about US$6 billion in June 2018 for the development of Gansu Industrial Park and Special Economic Zone around the refinery.

According to Henry, the Government is currently looking at the “dual impact” of the industrial park, which is being supported by Chinese firm, JISCO.

Henry said during the sectoral debate that that JISCO is streamlining the development of the industrial park with a total investment of US$6 billion that will cover bauxite and alumina industry expansion and development with the related infrastructure and will be integrated significantly with the Vernamfield Aerotropolis development in Clarendon.

“The two collective projects are poised to transform central Jamaica in a manner that is unprecedented and, today, after a recent trip to China at the invitation of JISCO, which included updating and participation in the project planning and design and implementation process among other stakeholder groupings, I have really good news to report to the country,” the minister said.

Based on his discussions in China, Henry informed the House that the project's timetable is on schedule and some expects are being developed even ahead of schedule.

“So we are looking good towards realising the globally focused industrial park and special economic zone within the (three) years immediately ahead,” he added.

The agreement was signed in February and the Chinese central government has already granted the approval. The creation of an equity investment fund to finance the venture is scheduled for October. Ground breaking for the industrial park is expected to take place in December and the phased construction will extend for two to eight years, starting in January. The final date will be announced at a conference to be held in Dunghuang, China in September.

“With a projected overall investment of US$6 billion, inclusive of expansion works at JISCO, there is no question of the scale, the developmental scope and the economic imperatives of this project,” he said.

JISCO's core project, according to the minister,  is to establish a new alumina plant, with supporting infrastructure, like new power plants and a liquified natural gas facility along with the expansion of Port Kaiser and railway rehabilitation and expansion. The amount of US$3 billion is earmarked to support the infrastructure development.

The industrial park will further focus on fabrication, processing and assembly for export. It will also introduce high-end industries and fabrication enterprises.