Jamaica Betting Big on Panama Canal Expansion
January 31, 2013   NACLA.org     The expansion of the Panama Canal is to be completed in 2015. In  preparation for this, Jamaica has embarked upon an ambitious program of  infrastructure development to position it as a “global transshipment and  logistics hub”—joining the likes of Singapore, Dubai, and Rotterdam.    However, the cost to join the ranks of such global hubs is estimated  to cost Jamaica anywhere between US$8 and $10 billion. While Jamaica is  endowed with natural advantages, such as geographic proximity—it is the  island closest to Panama and home to the world’s seventh largest natural  harbor in the world—it is also saddled with a crippling amount of debt.    In order to successfully complete the daunting project before the  canal opens, Jamaica will have to dredge the Kingston harbour in order  to ensure that the massive ships will be able to enter port, expand  existing port facilities, construct a dry dock for ship repairs,  establish a transshipment commodity port, a...