Cabinet has approved the selection of a provisional preferred bidder for the divestment of the Kingston Container Terminal, KCT.

Transport Minister, Dr. Omar Davies, disclosed to Parliament today that three firms had expressed an interest in taking part in the divestment process.

However, he said tenders were received from only one bidder, Terminal Link Consortium, which has been named as the provisional preferred bidder.

Dr. Davies also told the House that a team has been charged with negotiating with Terminal Link.

The negotiating team comprises former Bank of Jamaica Governor, Derrick Lattibeaudiere, Permanent Secretary in the Transport Ministry, Audrey Sewell, businessman Peter Melhado and Chairman of the Port Authority of Jamaica, Gordon Shirley.

Dr. Davies says the negotiating team has a month to provide him with a progress report.

Dr. Omar Davies, Minister of Transports, Works and Housing addressing the House of Representatives this afternoon.