TransJamaican Highway Limited advises that in keeping with the Right of First Refusal granted to TJH contained in the Second Amended and Restated Concession Agreement dated January 29, 2020 with the National Road Operating and Constructing Company Limited (NROCC), the Cabinet of the Government of Jamaica (GOJ) has now given approval to NROCC to accept TJH’s financial offer of Twenty Million, Three Hundred Thousand United States Dollars (US$20,300,000), plus potential Upside Formula amounts, to acquire the concession to Operate and Maintain Phase 1C of the Highway 2000 toll roads until November 20th, 2036. The government’s acceptance is subject to contract and additional conditions.
Phase 1C is the recently completed extension of Highway 2000 between May Pen and Williamsfield. TJH operates and maintains the remaining elements of Highway 2000 consisting of Phase 1A (between Caymanas and Sandy Bay), Phase 1B (between Sandy Bay and May Pen) and the Portmore leg.
