EMERGING world economic empire China could be the new owner of the Kingston Container Terminal if ongoing negotiations with the Jamaica Government are successful.

Investment and Commerce Minister Karl Samuda, confirmed the negotiations with China last Friday and noted that the sale, along with the slated development of the Caymanas industrial Park, St Catherine and that of Vernamfield in Clarendon, could net the country over US$6 billion.

"We are actively negotiating with the Chinese to acquire the Kingston Container Terminal and the reason for that is it would make the Caymanas economic zone much more attractive," Samuda told the Observer.

"What I can tell you is that the project I'm talking about -- the port, the Kingston Freezone, the Tinson Pen lands the Caymanas lands linking into Vernamfield (by rail) -- we are looking at a US$6 billion dollar investment," said Samuda.

He said that the negotiations had been going on for more than a year and noted that it will be some time before any deal is inked.

Samuda described the sale and development projects as the country's last "great chance" out of its economical "rut" and provide the kind of jobs needed to tackle unemployment.

"That's the kind of investment that can take us out of our rut. It's our last great chance of creating the jobs and enriching our country through the proper utilisation of assets that are attractive," said Samuda.

"It is the last chance we have. It's the best opportunity we have and that's why we are pushing so hard to get investors, who have the capital and the willingness to share this with us and we feel satisfied that the Chinese are the ones that are best suited for that right now because we have not had the kind of interest and support that has been expressed by the Chinese," the minister said.

Samuda said that under the development plan, the Tinson Pen Aerodrome would be relocated, possibly to the sprawling Caymanas lands in St Catherine. He said also that Vernamfield, could become an airstrip that could be utilised for cargo and maintenance of aircraft.

Samuda said that Middle East countries, such as Kuwait, have expressed "sufficient interest" in the development projects and that a contingent from Jamaica would be travelling to that region later this year to secure investments.

"What we want now is positive-minded people who will encourage us in pursuit of this," Samuda said.