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| Project-At-A-Glance | |
| Programme Name | Privatization of the Jamaican Railway |
| Start Date | January 15, 2003 |
| Closing Date | March 2003 |
| Total Project Cost | US$59m |
| Implementation Agency | Vancouver Airport Consortium |
| Project Objectives |
| To improve the efficiency, quality and sustainability of the airport transportation services available to the tourism industry and the export sectors of the economy. |
Privatization of the Jamaican Railway
Plans are underway for the privatization of the Jamaica Railway Corporation. In 1999 the Government of Jamaica signed a memorandum of understanding with an Indian company to establish a joint venture company to revitalize the railway service in Jamaica. Under the agreement the government will own 40% of the JRC, Rail India and Economic Services (RITES), 30% and other local companies will own the remaining 30%.
The National Investment Bank of Jamaica is currently conducting the final stages of negotiations on the government’s behalf.
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