KCT Privatization Deal Reached

first_imgzoom French liner company CMA CGM’s Terminal Link subsidiary has reached an agreement with the Jamaican government on privatization of the Kingston Container Terminal (KCT).Under the deal, Terminal Link won a long-term concession to finance, expand, maintain and operate the terminal.The contract signing to seal the agreement is slated to take place on April 7.According to the country’s Prime Minister Portia Simpson Miller, who made the announcement, the deal will entail dredging, optimisation and expansion of KCT in two phases, which will include dredging of the ship channel, turning basin and some berths to accommodate post-Panama vessels. The first phase also includes significant civil works to retrofit and deepen some areas of the berths, writes the Jamaica Observer.The talks on the arrangement were launched in October 2014.KCT, owned by the Port  Authority of Jamaica, is operated by KCT Services Ltd.KCT is one of the region’s leading container transshipment ports and consists of three terminals—the  North, South and West Terminals with a rated capacity of 2.8 Million TEUs.World Maritime News Stafflast_img read more