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PCJ: Cambridge No Longer Had Resources To Build Plants

 

The Petroleum Corporation of Jamaica (PCJ) has hit back at Cambridge Project Development Inc’s claims about the failed waste-to-energy plants project.

 

According to a media statement from PCJ, the 2009 waste-to-energy plants joint-venture agreement with Cambridge “was terminated by the PCJ in March 2012 when one of the consortium’s partners underwent restructuring, as a result of bankruptcy, which impaired the financial health of the consortium”.

 

The statement said PCJ informed Cambridge of the reasons for the termination on March 30, 2012 and the Office of the Contractor General was informed in April 2012.

 

In June 2009, following a request for tenders in January of that year, Cambridge Project Development Consortium (one of the partners in Azurest Cambridge Power) had been selected as the preferred bidder to establish two waste-to-energy plants at the Riverton landfill in Kingston and the Retirement waste facility in St James, using new technologies that would generate up to 65 megawatts of electricity.

 

In a statement to the media on Sunday, Cambridge claimed, “the non-pursuance of this project had nothing to do with Cambridge’s ability to execute”, noting that PCJ cancelled the deal because the “Phase III evaluation of the project’s economics had not met their criteria”.

 

Source: http://jamaica-gleaner.com/gleaner/20131008/lead/lead3.html



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