May 16, 2023
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Jamaica has introduced a multibillion-dollar vessel maintenance and repair hub that is expected to offer dry docking to commercial vessels of 20,000 tons and maintenance and repair activities to ships operating around and within Central America and the Caribbean.
PM Andrew Holness mentioned that Kingston Harbor’s German Ship Repair Jamaica or the GSRJ Shipyard, along Sir Florizel Glasspole Highway, will fetch foreign exchange deals for the nation.
Phase one, expected to be executed by November, is reportedly being undertaken at an overall cost of about US$37 million, with Sagicor Bank, the financial partner, committing to provide half of the amount as a loan.
The partners of GSRJ include Harren and Partner Group; Kingston Holding; Kloska Group; and HAT-SAN Shipyard. PM Holness mentioned that such a development is expected to contribute to positioning Kingston Harbour as a global logistics hub.
In the same context, he observed that Jamaica gets about 3,000 port calls every year, while 180,000 vessels operate in the region.
GSRJ Limited’s CEO, Colonel Martin Rickman, mentioned that the assignment represents a new industry for Jamaica with golden opportunities for spin-off businesses, contributing even more to the economy.
Per international maritime law, all vessels must be dry-docked to check for integrity and safety once in five years and get their class certification.
Rickman mentioned that the project’s training component is crucial to help workers meet international standards for the necessary operations.
References: Jamaica Information Service, Caribbean National Weekly
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