KINGSTON FREEPORT TERMINAL LTD
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer?
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.
What is our 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 do we fund this investment?
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.
- Website customer/investment
- http://www.iadb.org
- Region
- Latin America & The Caribbean
- Country
- Jamaica
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 6/29/2016
- Total FMO financing
- USD 30.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A