The Factories Corporation of Jamaica (FCJ) will be leading the construction of the Naggo Head Technology Park in St. Catherine.
Cabinet, in September 2018, gave approval for a joint venture agreement between the FCJ and China Harbour Engineering Company, CHEC, for the development of the facility.
The park will be constructed on 34 acres of land in Portmore over a period of two years. The development will be in close proximity to all required infrastructure and amenities.
Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Daryl Vaz, says the project will focus on providing ready-made space for business process outsourcing, BPO, and for innovative small businesses. He says it will also benefit from fiscal incentives under the Special Economic Zones Act.
The announcement was made by Minister Vaz during his contribution to the 2019/20 Sectoral Debate in the House of Representatives on Tuesday. He says the expected investment is USD$75-million.
Turning to the Kingston Logistics Park, Minister Vaz says investors will be able to access space via a range of commercial arrangements aligned to their needs.
These include long-term leases to develop their own facilities, leasing turnkey facilities designed according to client requirements or enter joint venture arrangements with appropriate partners.