Cabinet has approved the execution of MoU aimed at providing a suitable energy solution for the Jamalco plant in Clarendon.
The MoU is to be executed by the Ministry of Science, Technology, Energy and Mining and involve the Government, Alcoa Minerals of Jamaica and Clarendon Alumina Partners.
Making the disclosure at November 21st 2012 Jamaica House press briefing at the Office of the Prime Minister, Minister with responsibility for Information, Senator the Hon Ms Sandrea Falconer informed that the MoU was signed earlier this week.
She pointed out that Jamalco has made significant contribution to Jamaica's national development, advancing major industrial, economic and social benefits especially to the parish of Clarendon. Since 2004, however, Jamalco's viability has been negatively impacted by hurricanes increased cost of fuel, the global economic crisis and depressed prices for alumina in the global market these challenges had forced Alcoa to reconsider its future operations with Jamaica.
Earlier this year, Mr Phillip Paulwell Minister of Science, Technology, Energy and Mining met with Alcoa executives in New York and assured the company that the Government would help to facilitate identifying suitable energy options.
Senator Falconer said that following this meeting, Alcoa agreed to remain in Jamaica. The MoU proposes that all options are explored to come up with an energy solution. By December 31, the parties will terminate the MoU if they are unable to finalize a binding agreement to implement the energy solution.
