The House of
Representatives has approved a Government guarantee of a multi-million US
Dollar loan on behalf of Clarendon Alumina Partners (CAP).
The guarantee covers CAP's payment of US$127 million to Alcoa Minerals of Jamaica
The money has been approved under the provisions of the Approved Organizations and Authorities Loans Act, in relation to the arrears obligations of Clarendon Alumina Partners.
Prime Minister Bruce Golding, who moved the resolution in the House on Tuesday chastized the previous administration which entered into the forward sale agreement for the sale of alumina.
The guarantee covers CAP's payment of US$127 million to Alcoa Minerals of Jamaica
The money has been approved under the provisions of the Approved Organizations and Authorities Loans Act, in relation to the arrears obligations of Clarendon Alumina Partners.
Prime Minister Bruce Golding, who moved the resolution in the House on Tuesday chastized the previous administration which entered into the forward sale agreement for the sale of alumina.
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