Cabinet has approved the structuring of the public-private partnership (PPP) model for the operation of the Kingston Container Terminal (KCT).
Making the announcement at Wednesday’s (December 18) Jamaica House press briefing held at the Office of the Prime Minister, Information Minister, Senator the Hon. Sandrea Falconer, said the move follows careful due diligence and business case analysis.
She said that the next step in the process includes the issuance of confidential memorandum and the request for proposal (RFP).
The Government of Jamaica is seeking to grant a long-term concession to a global terminal operator with the necessary experience, market linkages, and capital to operate and expand the KCT through a PPP.
Ms. Falconer said that based on the evaluation of the requests for qualification, three firms have qualified to participate in the RFP. These are: the Port of Singapore; the Terminal Ling Consortium; and Dubai Ports.
Government has also approved the PPP transaction structure for the Port Community System (PCS) and the issuing of RFP to pre-qualified parties.
“In 2012, both the Port Authority of Jamaica and the Jamaica Customs were mandated to implement a PCS for the shipping industry as a public private partnership,” Minister Falconer told journalists.
The three main components of the PCS project are: engagement of the investor for the design, development, financing, and implementation of the system; engagement of technical consultants to assist with the pre-implementation activities; and the engagement of legal advisors to focus on the legislative work and drafting of the concession agreement.
The PCS is an electronic platform connecting multiple systems operated by the various private and public organisations within the port community, as a single, shared and organised system, which will optimize, manage, and automate smooth port and logistics processes.
“The implementation of the PCS is in keeping with Jamaica’s national development plan, within the context of establishing Jamaica as a global cargo transshipment and logistics hub,” Minister Falconer noted.