Mining Minister, Mike Henry, says the way is now clear for the inflow of USD$1-billion in foreign direct investment and the creation 800 new jobs.
This following today’s completion of the acquisition of the ALPART bauxite plant by the Chinese owned Jiuquan Iron & Steel Company, JISCO.
ALPART is based in Nain in St. Elizabeth.
A statement today from the Mining Ministry says Minister Henry inked three agreements with JISCO in China this morning.
Those agreements are – the Establishment Agreement, the Fiscal Regime Agreement and the Agency and Land Use Agreement.
The Ministry says this has effectively finalized the acquisition of ALPART by JISCO.
According to the Ministry, these documents outline the agreements concerning the ownership, operation and build-out of the ALPART plant.
Minister Henry and his delegation to China are to return to Jamaica next week
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