German Shipyard Repair Jamaica Project Underway

Jamaica is set to tap into a multibillion dollar ship repair and maintenance industry. On Tuesday a ceremony was held to commence the German Ship Repair Jamaica Shipyard Project. Starting with the construction of a shipyard, this development will be located along the Sir Florizel Glasspole Highway. Colonel Martin Rickman says the 37 billion dollar project will create economic opportunities for Jamaica. 

He says Jamaica is poised to grow from this venture citing training is being prioritized. Executive Assistant to the Board of Directors and Company Secretary Dr. Birte Timm lauds partners such as Heart NTA Trust and Caribbean Maritime University and says she is excited about the future results.

President and CEO of Sagicor Group, Christopher Zacca says the project will be one for the books and something every Jamaican will be proud of. The initiative sees Sagicor Bank as the lead arranger and financier. The ship repair facility is expected to be completed between October and November of this year.

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Reporter: Nasika Alliman