Jamaica Investments Highlights: Caymanas Logistics Centre (CLC) – A Special Economic Zone

The CSEZ is expected to attract sustained economic activities in specific value added industries as well as the SME sector through a cluster approach. It is also expected that the CSEZ will serve as a model for the development of future economic zones across the country in keeping with the GoJ’s growth and development agenda. The project forms part of a larger development for the area consisting of approximately 10,000 acres.

With an increase in trade volume, ever increasing trans-shipment cargoes and the global tilt, the strategic location of Jamaica and its potential role and functions in the global logistics have significantly increased the viability of the project.

The North Mandela Park comprises the development of 200 acres of land designated to be an eco-friendly Distripark. The area will be designated a Special Economic Zone and developed to provide for industry clusters including but is not limited to:

  • Light Industry Manufacturing clusters
  • Cultural and creative clusters
  • Warehousing and Distribution as part of supply chain management
  • Commercial and retail sales – Outlet Stores
  • Business Incubators
  • ICT/BPO services

The South Mandela Park is proposed to be phase 2 of the CLC and will be developed on approximately 1,500 acres of prime real estate lands. This area will also be designated a Special Economic Zone and will be port integrated into the Caribbean’s largest and most modern port. The development is recommended to have the following features:

  • Heavy Industrial Lots/Warehousing
  • Light Industrial Lots
  • Warehousing and Distribution space
  • Residences/Dorms
  • Hotel/Business Support Services centre
  • Business Incubators
  • Government agencies offices for a one-stop solution of services.
  • Training Institution
  • Transportation Centre
  • Sports and recreational Park
  • F & B facilities
  • Central security and monitoring centre
  • Stakeholders support centres

The projects will realise in the first phase, development of the largest business and logistics centre in Jamaica and the Caribbean region with its main goals being to facilitate the growth of foreign direct investment, providing local existing Micro, Small and Medium Enterprises (MSME) with new business opportunities, spurning new MSME with business opportunities, providing significant opportunities for new employment, attracting the set-up of Multinational corporations regional headquarters and attracting new business tourist.

Caymanas Logistics Centre seeks to capitalise on the growing success of supply chain management in the global logistics industry and the vital role that behind the port activities play in the success of global logistics and economic development. At many transhipment ports internationally, the behind the port infrastructure developments generate larger economic benefits than the ports themselves.

The proposed industrial infrastructure planned for development will offer prospective local and international clients with opportunities to use the strategic location of Jamaica to set up global logistics-based businesses as well as support services, while exploiting the global competitive advantage of Jamaica's human resources in the services industry.

According to the World Bank, the most appropriate way to initiate development of Caymanas would be to commission a detailed feasibility study for the first phase of 200 acres of a total of 1,700 acres, which would include:

  • Demand assessment and competitiveness benchmarking;
  • Conceptual and detailed master plans;
  • Costing of on-site infrastructure, buildings, and other installations;
  • Identification and costing of necessary off-site infrastructure to ensure the success of the zone;
  • Financial feasibility study;
  • Economic impact evaluation and economic rate of return calculations;
  • Environmental analysis (or full EIA, depending on categorization of the project);
  • Preparation of TOR for detailed engineering design or design/build contract;
  • Recommendations on form and structure of PPP;
  • Recommendations on SEZ management and governance.

The role of the Caymanas enterprise team includes the development of the entire project profile and identify a suitable private developer and operator be recruited. The project will be marketed as a PPP that is eventually created and will give a maximum of autonomy to the private developer – preferably under some form of BOT or BOOT arrangement or a similar transaction model. The Ministry of Industry, Investment and Commerce has been assigned the role of acting as government’s partner in the venture and owner of the land on which the zone sits.

Disclaimer
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.
Top