This follows the signing of a Framework Agreement on Thursday between the Gansu Vice Governor, Huang Qiang and Mining Minister, Mike Henry. The political, administrative and procedural preliminary activities will begin immediately so that the next phase of the development can be outlined when the parties meet in China in September, it added. “The size of the investment for this contemplated development is of major significance for both Jamaica and China, in that it is the largest investment ever contemplated in Jamaica and it’s the first overseas investment for Gansu Province,” the release said. The recent release from the Transport and Mining Ministry said the investment is expected to be the first and largest to be made by the Gansu provincial government in a foreign country, according to the Gleaner newspaper. Issa, who is executive chairman of Cool Group, was reacting to news that the government of Jamaica and China’s Gansu Provincial government had signed an agreement that would clear the way for the development of a $6 billion industrial park and Special Economic Zone around the JISCO/ALPART alumina refinery in Nain, St Elizabeth. He added that the establishment of the park and economic zone around the Nain plant will increase operational efficiency and bring in much needed employment to the parish.
“ In the case of bauxite, the project will benefit Jamaica by allowing more of the intermediary product, alumina, to be produced locally, as well as the final product, aluninum used in many industrial applications and other products like cosmetics,” said Issa. “ I have long felt that Jamaica could benefit much more from its mineral deposits if we add value to it by processing the raw materials to make final products, rather than exporting the raw materials. National award-winning businessman Joe Issa has described the construction of a multi-billion Industrial Park and Special Economic Zone (SEZ) around the alumina plant in Nain, St Elizabeth as a good idea, stating it will facilitate the development of value added products, which increases earnings for industries and by extention Jamaica.Īlumina refinery in Nain, St Elizabeth Joe Issa
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