JISCO to invest $3 billion to develop Gansu Industrial Park and Special Economic Zone

Gansu Industrial Park and Special Economic Zone in Nain, St. Elizabeth, where China-based Jiuquan Iron and Steel Company (JISCO) operates the Alpart alumina refinery is going to get a facelift, as the company itself will invest over US$3 billion for the development.

Pivotal to Jamaica’s Logistics Hub Initiative (LHI), this park is one of the largest business parks developed by the Jamaica Special Economic Zone Authority (JSEZA) and is expected to generate 60,000 jobs on further development.

Chairman of the JSEZA, Metry Seaga, provided all the possible details of the development during a media briefing at the authority Waterloo Road, St. Andrew, on Wednesday, June 20. He said this development would involve the establishment of a bauxite/alumina refinery, an electricity plant to power the refinery and other businesses in the park, and a smelter to underpin JISCO’s focus on manufacturing aluminium and its by-products locally.

“I think it is important that we, as Jamaicans, understand the game changer that this is going to be. It is going to transform, not only St. Elizabeth, but all the towns around it. Most importantly, this has the backing of the Government of the People’s Republic of China. This is real and we are going to make it happen,” the Chairman said.

Meanwhile, Mr. Seaga indicated that this development would be part of a wider project targeting housing developments. JSEZA Chief Executive Officer, Dr. Eric Deans also said the key summary findings of the Logistics Hub Initiative Master Plan articulate the creation of three new towns around these SEZs that will impact 75,000 households and 220,000 residents, “but, more importantly, a market reach of 80 million persons”.

However, he ensured that the project would not be a concrete jungle but ecologically friendly with a lot of green space.