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CHINESE MOVE TO TAKE OVER BAUXITE

Archive Written by  Friday, 12 February 2016 06:55 font size decrease font size increase font size 0
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  The Chinese are coming! A delegation has been in the island over the last few months seeking to tie up a deal for the nation's largest alumina refinery. It seems that the Chinese are seeking to extend their influence in Jamaica beyond just roads, highways and logistics hubs. 
 
 
Reeling from the sanctions against its home country for invading the Ukraine in 2014...Russian aluminium company, UC Rusal is to reduce its stake in Jamaica. The Russians have been in talks with Chinese state-owned entity JISCO since last year and are ready to off load the Alpart refinery in St Elizabeth to it for more than US$300 million.
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