The Jamaican government has completed the privatisation of the country’s sugar industry, signing a divestment agreement with state-owned Chinese company COMPLANT.
Under the agreement, COMPLANT will acquire the Bernard Lodge, Frome and Monymusk lands for $9 million.
“We know that this relationship will be long and fruitful,” said Agriculture Minister Robert Montague. “We not only expect COMPLAINT’s investment in sugar and in the planting of cane but we are also expecting that, as good corporate citizens, COMPLANT will play its role in other areas and aspects of the Jamaican economy.”
COMPLANT CEO Tang Jianguo said the company would begin with renovations and rehabilitation works, pledging to “set up collaborations with Jamaican counterparts to promote the development of the whole industry.”
“We will make efforts to strengthen the exchanges and communications to set up harmonious relations,” he said. “We will make every effort to push forward the development of the sugar industry of Jamaica.”
Questions allegedly arose over the deal earlier this month, with the Chinese reportedly expressing reservations over the deal.
–Jamaica Information Service