Kingston Container Terminal (KCT)
As part of its development strategy in “National Development Plan: “Vision 2030”, the Government of Jamaica (GoJ) aims to develop Jamaica as a global logistics hub and the maritime and aviation hub of the Americas.
Due to the anticipated increase in transshipment business resulting from the expansion of the Panama Canal, which is expected to be completed and commence operations by mid-2015, the GoJ is seeking to grant a long-term concession to operate and potentially expand the Kingston Container Terminal (KCT). Further development of KCT is expected to facilitate the passage of Super Post Panamax vessels carrying 12,000+Twenty Foot Equivalent Units (TEU).
KCT is one of the largest transshipment ports in the Central American and Caribbean region with a current capacity of 2.8 million TEUs and has the ability to accommodate vessels carrying up to 10,000 TEUs. There is significant capacity expansion potential which presents an attractive investment opportunity. It is geographically located on the major trade lane serving the US East and Gulf coasts, Europe/Asia trade lane and South America, Latin America and Caribbean states.
The GoJ, through the Ministry of Transport, Works and Housing, is seeking to grant a long term concession to finance, expand, operate, maintain and transfer the KCT in order to capitalize on the expansion of the Panama Canal and other emerging industry trends.
Concession Agreement was executed between the Port Authority of Jamaica and the Terminal Link Consortium on April 7, 2015. Financial Close took place on 24 June 2016.