St. Thomas Set to Become Jamaica’s New Economic Powerhouse

In a bold move to invigorate economic activity in St. Thomas, the Port Authority of Jamaica is eyeing the construction of a new port in the parish. This initiative aims to supply limestone and aggregates to Guyana, a country currently experiencing a construction boom fueled by its oil wealth.

A Rich Resource at Our Doorstep

St. Thomas is blessed with abundant limestone and aggregates, making it an ideal candidate for this venture. Alok Jain, the chairman of the Port Authority, emphasizes the strategic importance of these mineral deposits. “We’re looking at establishing new ports around the country to facilitate exports of commodities like aggregates,” he explains. This could not only boost local employment but also position Jamaica as a key player in the regional supply chain.

Meeting Guyana’s Growing Demand

Guyana’s appetite for construction materials is insatiable. In 2023 alone, the country imported a staggering US$47 million worth of gravel and crushed stones—a jaw-dropping 250% increase from the previous year. As Guyana rapidly builds out its roads and infrastructure, the need for reliable and cost-effective sources of materials becomes critical. A port in St. Thomas could significantly cut transportation costs, making Jamaican aggregates more competitive.

Kingston’s Strategic Advantage

Mr. Jain also highlights how global trade dynamics are shifting. With new tariffs and changing trade blocks, the Port of Kingston is becoming increasingly competitive. “We’re just one to three days away from major US East and Gulf Coast ports,” he notes, positioning Kingston as a strategic hub for international trade.

Since 2016, over $400 million has been invested in the Kingston Freeport Terminal, including the recent acquisition of two new cranes valued at $10 million. This investment is set to enhance operational efficiency and enable the terminal to handle greater volumes of trade.

The Future Looks Bright

Looking ahead, the next phase of growth for Jamaica involves the development of the Caymanas Special Economic Zone. This ambitious project, valued at $8 billion, aims to transform 200 acres into a bustling logistics hub. “This will further strengthen Jamaica’s role in regional logistics,” Mr. Jain asserts, hinting at an exciting future for the island.

Community Voices

Local residents are buzzing with excitement about the potential port. “This could create jobs and bring more business to our community,” says a St. Thomas shopkeeper. Others express hope that the new port will lead to better infrastructure and services in the area.

As Jamaica stands on the brink of a new economic chapter, the question remains: Will St. Thomas become the next big player in the Caribbean’s logistics landscape? With its rich resources and strategic initiatives, the answer seems promising.