Pickersgill
THE GOVERNMENT has revealed that TransJamaica Highway Ltd, has spent US$91.4 million, (J$5.5 billion), on the construction of Highway 2000 up to December last year.
More than a third of the total, US$35.8 million (J$2.15 billion) is loan funds from the National Road Operating and Construction Company (NROCC), the Government agency set up to administer the toll road development.
ANSWER TO QUESTIONS
The information was presented to the House of Representatives by Minister of Transport and Works, Robert Pickersgill, in answer to questions asked by Opposition spokesman on finance, Audley Shaw, regarding the total amount of funds spent so far on the road project.
Mr. Pickersgill also revealed that an additional US$3.2 million has been spent so far by NROCC on land acquisition and relocation of utilities.
Of the total amount spent by TransJamaica, US$55 million is in the form of equity from the developer as well as loan funds from private sector sources without any Government of Jamaica guarantee.
