Jamaica News: Civil works on the South Coast Highway Improvement Project (SCHIP) are scheduled to commence in the first quarter of the 2019/20 Fiscal Year.
This was disclosed by Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, as he opened debate on the Second Supplementary Estimates in the House of Representatives on January 15.
The Lower House approved the Second Supplementary Estimates, which show that the Administration is to spend an additional $11.45 billion for this fiscal year. The Estimates reveal that the Budget has been increased from $791.11 billion to $802.56 billion.
Approximately $1.7 billion has been reallocated from the SCHIP due to the slower-than-programmed project implementation.
“The Government of Jamaica and the contractor are at an advanced stage of meeting all conditions precedent to first disbursement of the loan. The sum remaining in the Budget includes the sum required to meet payment of the management fee (US$1.142 million) and to cover preliminary activities,” Dr. Clarke noted.
- The Minister pointed out that the Ministry of Economic Growth and Job Creation will start the procurement process for the project over the next few weeks.
Source: JIS News