The Government of Jamaica, through Harmonisation Limited, has entered into a definitive framework agreement with the Tavistock Group for the development of the stalled Harmony Cove project as a major integrated resort in Trelawny. A media release from the Ministry of Finance on Friday said Tavistock Group has indicated that the investment capital and start-up costs associated with the project will be approximately US$1 billion. The Harmony Cove project was conceived two decades ago but has been stalled due to lack of funding.
The finance ministry says the joint venture agreement for development of Harmony Cove has been significantly revised and updated to reflect a balance of responsibilities and interests between the Government of Jamaica and global private investors. It says the agreement now includes a defined timeline with development milestones. Minister of Finance and the Public Service, Dr Nigel Clarke says “We are pleased that the parties were willing to update the agreements to reflect the current fiscal environment, while re-affirming the commitment to bringing this landmark investment to Jamaica.
" The ministry says Tavistock Group and Harmonisation Limited will begin work immediately, through Harmony Cove Limited, with the appointment of leading global architectural, engineering, and construction management firms to finalise and implement the agreed development plan. Clarke says the arrangement stands as evidence of the attractiveness of Jamaica as a destination .
