First Major Investment under ‘Shovel Ready’ Programme
June 17, 2016
First Major Investment under ‘Shovel Ready’ Programme
June 17, 2016
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Story Highlights
- Jamaica has benefited from the first major investment under the ‘Shovel Ready’ programme.
- Minister Bartlett, who spoke to JIS News after the brief ceremony held at Devon House, said that the ‘Shovel Ready’ project aims to attract local and foreign investments by offering pre-packaged projects.
- The ‘Shovel Ready’ project is a collaborative initiative of the Tourism Enhancement Fund and JAMPRO.
Jamaica has benefited from the first major investment under the ‘Shovel Ready’ programme.
Minister of Tourism, Hon. Edmund Bartlett on June 14, signed a contract with Karisma Hotels and Resorts for the construction of 5,000 new hotel rooms in Llandovery, St. Ann.
The project is to be undertaken over the next five to 10 years, with some 8,000 jobs to be created.
Minister Bartlett, who spoke to JIS News after the brief ceremony held at Devon House, said that the ‘Shovel Ready’ project aims to attract local and foreign investments by offering pre-packaged projects.
The aim is to fast-track investments in the sector.
“We are preparing the site, the regulatory agreements, the National Environment and Planning Agency agreements, all those arrangements so that when the investor comes, everything is already in place. In that way, we get a quicker turnaround time for the development and the build-out of the hotels,” he explained.
The ‘Shovel Ready’ project is a collaborative initiative of the Tourism Enhancement Fund and JAMPRO.
Karisma Hotels and Resorts is a fast-growing Florida-based operator of theme and high-end boutique properties.
The company is spending US$45 million on the construction of a 149-room property in Negril.
Source: JIS
Published Date: June 17th, 2016