STEPHENSON

Port operator Kingston Wharves Limited (KW) is investing about $65 million to develop what it calls a one stop shop for domestic importers of cars on the Kingston water-front, by December 2007.

The project, which will essentially create a parking lot close to the port for cars waiting to clear customs, is already near half done.

KW owns an 11.5-acre property located on Ashenheim Road in the industrial zone near the ports, which it acquired three years ago for US$1.5 million, said chairman and chief executive officer Grantley Stephenson, and now plans to put it to use as rented space.

The property, which formerly housed the defunct West Indies Glass Limited, is being developed to hold about 5,000 cars.

Garth Kitson, the general manager for operations at KW, says it will include facilities for customs and company personnel as well as warehouse space for the vehicles.

KW operates similar facilities at nearby Third Street, which will be relocated to Ashenheim Road.

Kitson says the project is 40-45 per cent complete. An eight feet perimeter wall has already been erected there.

The $65 million covers the cost to convert the area into the car park.

KW also plans to transform its current car warehouse on Third Street into storage space for containers, by extending the perimeter fence which currently stops at the Kingport Building on Third Street.

That plan is contingent on the company acquiring land on Third Avenue to accommodate the extension.

susan.gordon@gleanerjm.com