Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Jamaica
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Signed
Bank Risk Rating: A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Investment Amount (USD): $ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-11-03
KINGSTON FREEPORT TERMINAL LTD
FMO-48124

Project Description
WHO IS OUR CLIENT Kingston Freeport Terminal Ltd. (KFTL) is a company ultimately owned by French shipping company CMA CGM, the third largest container shipping line in the world. The project entails the privatization, expansion and improvement, operation and maintenance of the existing Kingston Container Terminal (KCT) in Kingston Jamaica, under a 30 year concession. FUNDING OBJECTIVE As part of the long-term debt consortium, FMO commits to USD 30 million. The funding will be used to expand and upgrade the current infrastructure to international, high quality standards. Through this, KCT's port capacity will increase to TEU 3.2 million per annum within the next six years and will serve as a hub for container shipment in the Caribbean region. WHY WE FUND THIS PROJECT KCT is an essential part of Jamaican infrastructure and serves as showcase for the positive developments Jamaica has experienced since the IMF bailout in 2013. By financing KFTL, FMO aims to support the creation and maintaining of direct and indirect jobs. Furthermore, the grantor of the concession, Port Authority of Jamaica, will benefit from substantial upfront and annual concession fees. Also, due to the transhipment nature of KCT's customer base and its strategic location, KFTL will enable shipping lines to reduce their vessels' oil consumption.
Investment Description
Contact Information
FMO The Netherlands +31 70 314 96 96 info@fmo.nl Anna van Saksenlaan 71 2593 HW, The Hague The Netherlands FMO South Africa +27 11 507 2500 joburg-office@fmo.nl Regent Place, 2nd Floor Cradock Ave, Rosebank 2196 Johannesburg South Africa