The US$452-million port modernisation project is moving towards completion in Kingston, and it is already remaking Jamaica’s major port.

The Inter-American Development Bank (IDB), based in Washington DC, is providing two loans, amounting to US $215 million, while China Infrastructure Fund has given a loan commitment of US$50 million to Kingston Freeport Terminal Limited (KFTL) for the project to modernise the port of Kingston.

KFTL operates Kingston Container Terminal (KCT) under a 30-year lease concession to finance, expand, operate and maintain the port, which is one of the largest container and trans-shipment ports in the Caribbean.

The project is being executed in three phases of which Phase 1 is completed while Phase 2, which is almost complete, has already transformed the port of Kingston through a number of land and offshore developments. Phase 3 is about to begin.

http://www.jamaicaobserver.com/business-report-daily-biz/us-452-million-kingston-port-modernisation-project-nearing-completion-phases-1-and-2-completed-phase-3-to-begin_183038