China will be investing in Jamaica’s Harmony Cove, a 2,300-acre property to be turned into an upscale resort on the Jamaican north coast.
A delegation from Sinohydro Corporation Limited in China, will visit Kingston later this month, to conclude negotiations for the financing and equity investment of the Harmony Cove Development project.
Minister of Finance and Planning, Dr Peter Phillips, made the announcement during the sitting of the House of Representatives on Tuesday (February 11) as he gave an update on his visit to China in December 2013. Dr Phillips’ visit to China came against the background of an earlier visit to the Asian country by a delegation, headed by Prime Minister, Portia Simpson Miller, in August 2013.
“The Government of Jamaica indicated to the parties involved in the transaction that the Government was not prepared to wait beyond this year for the conclusion of arrangements with potential Chinese partners,” Dr Phillips told the House.
Harmony Cove is a 2,300-acre property on the Jamaican north coast, located 23 miles east of Montego Bay, St James, and 44 miles west of Ocho Rios, St Ann. Government’s intention is to develop the property into a resort to include several world class golf courses, a luxury spa, marina facilities, commercial developments, luxury hotels, private residencies, a hotel, casino, convention and entertainment centres, restaurants and retail assets.
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