(Jamaica Observer) Engi-neering powerhouse China Harbour Engineering Com-pany (CHEC), a subsidiary of China Communications Con-struction Company (CCCC), will be the technical and construction brains behind the much vaunted Jamaica Development Infrastructure Programme (JDIP), intended to be the catalyst behind the revitalisation of the country’s roadworks and bridges. This programme will play a significant part in the country’s economic development and should create many new jobs.
CHEC has already set up offices in New Kingston’s Courtleigh Centre and has begun assiduously to go about the task at hand. The JDIP is a five-year public works programme funded by a loan of J$36 billion (US$400 million) secured by the Road Maintenance Fund from the Export/Import Bank of China at an interest rate of three per cent to be repaid over 20 years. The programme will be financed via a fuel cess imposed by the government of Jamaica. According to CHEC, The Export/Import Bank of China is happy with the measures proposed by the Government of Jamaica for repayment of this loan. CHEC has 31 overseas offices and projects in 70 countries valued at US$9.5 billion, employing 6,000 people. Last year it posted revenue turnover of US$2.3 billion which produced a profit of US$200 million. At this point in time CHEC has two programmes under implementation in Jamaica. Both programmes began in 2010 and after almost a year are moving ahead of schedule.