CAP to Record Profit By Next Year

first_imgMinister of Science, Technology, Energy and Mining, Hon. Phillip Paulwell, says it is expected that by next year, there will be a return of profitability to Clarendon Aluminium Partners (CAP).“We are seeing the revitalisation of the bauxite industry and for the first time in a long time… we are now forecasting that by next year, we are seeing the return of profitability to the Government owned Clarendon Aluminium Partners (CAP),” he added.Making his contribution to the 2015/16 Sectoral Debate in the House of Representatives on April 15, Mr. Paulwell said that during 2014, Jamaica mined and quarried 12.3 million tonnes of limestone.Mr. Paulwell said these materials included marl and fill, which amounted to 10.3 million tonnes;  and 2.03 million tonnes of construction aggregates and high grade limestone for chemical and pharmaceutical purposes.Some of the largest developers of limestone in Jamaica include the Caribbean Cement Company, Lydford Mining Company, Cementos Mexicanos and Chemical Lime Company, a local subsidiary of L’Hoist.In the meantime, the Minister said key strategies are being pursued to gain maximum advantage from the exploitation of the country’s mineral resources.“There are some critical policy objectives which include the finalisation of the National Minerals Policy and the mapping of critical mineral resources – gold, copper and limestone,” he noted. RelatedCabinet Approves Pension Scheme for Tourism Workers RelatedIndustry Ministry Strengthening Institutional Capacity CAP to Record Profit By Next Year Budget 2015/2016April 17, 2015Written by: Chris Patterson FacebookTwitterWhatsAppEmail center_img Story HighlightsMinister of Science, Technology, Energy and Mining, Hon. Phillip Paulwell, says it is expected that by next year, there will be a return of profitability to Clarendon Aluminium Partners (CAP).Making his contribution to the 2015/16 Sectoral Debate in the House of Representatives on April 15, Mr. Paulwell said that during 2014, Jamaica mined and quarried 12.3 million tonnes of limestone.Mr. Paulwell said these materials included marl and fill, which amounted to 10.3 million tonnes; and 2.03 million tonnes of construction aggregates and high grade limestone for chemical and pharmaceutical purposes. Advertisements RelatedOpportunities Cited for Jamaica from Cuban Tourism Market Openinglast_img read more

News / China’s shock P3 veto sparks calls to set up an international competition authority

first_img“Despite a highly publicised meeting in December between the EC, FMC and MofCom to discuss the P3, you then have this divergent decision, which makes things very difficult for international businesses.”Mr Woolich argued that the decision may provide some impetus for the creation of a global competition authority to rule on cases which are truly global.“I think that in due course – and we are not near there yet – it would be hugely beneficial for business if there was a world competition authority. Imagine it as a sort of extension of what we have in Europe, where we have merger control by the EC which substitutes merger control within member states for the biggest deals.“A world competition authority with worldwide powers would have all sorts of advantages – it would have one procedure, in one language, and one set of rules. At the moment, there are more than one hundred sets of procedures around the world, and as globalisation increases that’s a real problem for business“Of course, shipping is a real example of an industry that is globally integrated, and there would be real advantages to the industry if it came under one authority which could rule on an international arrangement of the type that the P3 proposed – it was only MofCom that defined it as a merger.“I think there would be greater consistency of approach,” he said.Meanwhile, Jongwen Zhu, who leads DLA Piper Asia’s competition law practice, has argued that the MofCom decision could have a fundamental impact on further consolidation within the shipping industry.“This prohibition will no doubt change the consolidation path of the shipping industry. It rings the bell for other shipping alliances such as the G6.“Reportedly, [the] Hong Kong Shipowners’ Association is planning to seek an industry-wide block exemption from Hong Kong Competition Ordinance for voluntary discussion agreement and vessel-sharing agreement.“It’s prudent for companies in transport and other industry sectors to review and discuss their existing and contemplated alliances and co-operation agreements with antitrust counsel to ensure such activities do not violate competition laws.” China’s recent blocking of Maersk, MSC and CMA CGM forming the P3 Alliance could have global competition law ramifications.According to Anthony Woolich, partner at law firm Holman Fenwick Willan and an expert on international competition law, China’s Ministry of Commerce (MofCom) took a divergent view of the P3 from that taken by western competition authorities, which had given the network the green light.Mr Woolich told The Loadstar, on the sidelines of last week’s TOC Container Supply Chain event in London: “MofCom seems to have departed from the approach of the EC and [US] FMC and treated it as a merger, and concluded that the market share was too high.“There are consequences for the development of international law. By Gavin van Marle 02/07/2014last_img read more

Ribbon Cutting For Traffic Circle

first_imgIt took 15 years, 26 different plans, and $5.3 million to transform the 1930s era one-lane traffic circle in Riverside into the two-lane “eggabout” now connecting Riverhead and Southampton towns, according to speakers at the Riverside roundabout’s October 26 ribbon cutting. The egg-like modern roundabout’s final design — which reduces both conflict points and the speed of vehicles within the five-legged intersection — was actually drawn on the back of a napkin, according to Suffolk County Department of Public Works’ chief engineer, Bill Hillman. “Drawing on the back of a napkin is really how things get done,” Hillman joked, adding entities behind the project’s completion were as multiple as the new Riverside roundabout’s own legs.Aside from securing funding — like the additional $1 million secured by Suffolk County Legislator Bridget Fleming to complete the project ahead of schedule and during night-time hours when construction stood to have the least impact on traffic flow — Hillman also credited state officials with solving the most difficult piece of the project: alienation of a small piece of Southampton Town park land on the intersection’s northwest corner. Both state legislation and a successful public referendum led, ultimately, to Southampton Town swapping the needed park property sliver with Suffolk County for a “larger, more environmentally-sensitive waterfront property,” according to a press release. NY State Assemblyman Fred Thiele offered kudos at the ribbon cutting to the Flanders, Riverhead, and Northampton communities for their tireless dedication to area revitalization, which he credited as being the driving force behind boosting regional progress.“Your persistence and hard work for many, many years is why this is happening today,” Thiele told Friday morning’s crowd. “This is the second time in a couple of months we’ve been here for a project that’s part of the revitalization of this community.”Flanders Riverhead Northampton Community Association president Ron Fisher — proxied at Friday morning’s ribbon cutting by vice president Sarah Huneault — told The Independent Saturday how proud he is both of the project’s completion and of community members for pushing against political procrastination.“It’s the gateway to our community, so anytime we can get a capital investment of this size from any level of government we’re very excited,” Fisher said of improvements to an intersection deemed “insufficient” to handle projected traffic patterns resulting from the Town of Southampton’s Riverside Redevelopment Action Plan, which was adopted in 2015.“A group of, I think, 60 of us or so had gone to a county legislative meeting in 2016 and said, ‘We’re always pushed off and forgotten about.’ We thought it was going to be very difficult to get private investors if the county didn’t pony up the money for the re-do,” Fisher said. As a result of such efforts, including a petition signed by more than 250 people, the project broke ground in May 2017 and was completed a month ahead of schedule. At the ribbon cutting, Chief Engineer Hillman gave credit to project manager Jeff Dawson, resident engineer Jim Bustamante, and to the contractor, Pioneer Paving Asphalt, for an “on time and on budget” job well done, adding, “They did a fantastic job. We’d welcome them back on any job in the county.” Sharelast_img read more

Wonders & blunders with Dominic Cullinan

first_imgSubscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to industry news as it happensBreaking, daily and weekly e-newsletters Get your free guest access  SIGN UP TODAY Subscribe now for unlimited access To continue enjoying, sign up for free guest accessExisting subscriber? LOGINlast_img read more

Open access operator to close

first_imgUK: On January 26 open access passenger operator Wrexham & Shropshire Railway announced that it was to cease trading, with its last train leaving London at 18.30 on January 28.Wrexham & Shropshire launched open access trains between Wrexham and London Marylebone via Shrewsbury in April 2008, restoring direct inter-city passenger trains from north Wales and Shropshire to London which had been missing for many years.The company was established as a joint venture between Renaissance Trains Ltd and Laing Rail, which already held the Chiltern Railways franchise covering the route between London Marylebone and the West Midlands. Deutsche Bahn subsequently assumed a majority stake in WSMR when it bought Laing Rail, and it sought to stem losses by seeking ‘management synergies’ with both Chiltern Railways and the Arriva Trains Wales franchise, which it took on last year as part of its acquisition of the Arriva group.‘Regrettably, we have concluded that the potential for further changes to the company’s operations will not improve the financial position sufficiently’, explained WSMR Chairman Adrian Shooter.‘The shareholders have invested in excess of £13m in launching the business and funding its losses, and have now concluded that there is no reasonable prospect that Wrexham & Shropshire can become profitable, or offer a return on this investment.’In a statement the operator also cited the Moderation of Competition restrictions intended to limit revenue abstraction from the InterCity West Coast franchise, held by Virgin Rail Group. These prevented WSMR trains from serving important Coventry, Birmingham and Wolverhampton markets, despite its trains being routed through the region.‘Despite strong growth in passenger numbers, the business has not been able to generate sufficient revenues to cover more than 65% of the cost of operating the service and in 2010 alone suffered losses of £2·9m’, the company said.last_img read more

Kenai Safeway Undergoing Remodel And Downsizing

first_imgThe store will remain open while it’s under construction and will be completed in June 2018. According to Sara Osborne, with Safeway Corporate office, the remodel plans involve demising the space to bring the Oaken Keg into the new 60,000 square foot premises, as well as relocating departments. FacebookTwitterEmailPrintFriendly分享The Safeway store in Kenai will be undergoing a remodel that will ‘significantly’ downsize the store. According to a release from Alaska USA, as a result of the remodel, the Alaska USA branch located inside Safeway will be closing permanently at 7:00 p.m. on January 31, 2018. Albertsons Companies will be investesting $5.7 million into the remodel, that will also include updated décor and equipment throughout the store, including a new Starbucks kiosk.center_img Alaska USA emailed out a notice to bank members making them aware about the upcoming branch closure and Safeway downsize. The Alaska USA ATM currently located at the branch will be relocated elsewhere in the Safeway store. Story as aired:last_img read more

OFFICIAL: Barcelona has announced the future of the club

first_imgBarcelona published on its official website information about the upcoming election for president of the club. It has been decided that the elections will be held on March 20 and 21. The procedure usually takes one day, but this time it will take two days to control the coronavirus. For the same reason, it was decided to hold the elections in several places, and before the location was one.The current president of Barcelona is Josep Maria Bartomeu, who has held the post since 2014.He is the main reason for Leo Messi’s desire to leave the Nou Camp.The Argentine genius accused the president of lying in plain text, but he will stay with the Catalans for at least another year. The reason for this is that no one will pay his release clause of 700 million euros.The other option is for Messi to file a lawsuit against the club for a special clause in his contract.She says she can leave as a free agent, but the six-time Ballon d’Or winner is adamant that she does not want to sue the team of her heart.If Bartomeu wins the election, it is possible that Messi will indeed leave Barça next summer.last_img read more