Wednesday, October 28, 2015
KINGSTON, Jamaica – Jamaica’s unemployment rate should see a reduction next June as international investors seek to hire 2,500 applicants for the development of a motor vehicle assembly plant at the Spanish Town Free Zone.
Designated Free Zone administrator Masada Jamaica Limited has entered a concessionary agreement with Gulfray America’s Manufacturing Limited for the development and management of the Spanish Town Free Zone to the tune of US$350 million.
The planned expansion is expected to contribute “high-level” jobs to the local economy in the areas of chemical and mechanical engineering, manufacturing, petrochemicals, logistics, and research, executive director of Masada Jamaica Limited, Robert Melamede, told media representatives at a press launch at Terra Nova Hotel on Wednesday.
“Additionally, jobs in the service industry will be generated by business processing outsourcing clients within the zone, as will jobs be outsourced to small and medium-sized enterprises,” he stated.
The project is expected to bring 10,000 new jobs over the next two years.
Located at March Pen Road, St Catherine, the Spanish Town Free Zone is currently home to companies involved in the distribution of lubricating oil and greases, manufacturing and distribution of consumer products and product laboratory services.
The expansion is being done to accommodate new expressions of interest in the Spanish Town Free Zone, which forms part of Jamaica’s planned Logistics Hub. On completion, nine international companies will occupy the zone.
The facility will be involved in the refining and regeneration of petroleum products, manufacturing of composite and insulation material, vehicle assembly, auto parts remanufacturing and distribution, manufacturing of pharmaceutical and nutraceutical products, research, development and manufacturing of tobacco products.
Karena Barrett
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