(Yicai Global) Dec. 13 -- General contracting firm China National Complete Plant Import & Export Corp. [SHE:000151] has signed an agreement for the construction of a hotel project in Jamaica.
The Shanghai-based group said yesterday that it has penned a pact with a lodging company in Montego Freeport to build an internationally branded hotel with 500 rooms in a deal worth as much as USD92 million.
The parties agreed that construction will take up to 20 months. They will calculate and finalize the actual contract amount based on the project's scope and details of term negotiations, China National Complete Plant Import & Export said.
Jamaica is China's largest trading partner in the English-speaking Caribbean. Trade between the two countries was worth USD660 million in 2015.