Jamaica Suspends Port Expansion, Blames Economy

Jamaica postpones $122 million port expansion, citing global financial crisis

amaica is suspending plans for a multimillion-dollar expansion of a popular tourist port in Kingston because no one wants to finance it.

A spokesman for the island's port authority says the $122 million project at the Kingston Wharf will be pushed back one year. Pat Belinfanti says construction might start in 2011.

He said Friday that several international banks backed off, citing the global financial crisis after initially saying they might finance the project.

The development would include construction of duty-free shops and a renovation of the nearby Port Royal town as a cruise ship destination.

The crisis also is responsible for hundreds of hotel layoffs across the Caribbean and paralyzing resort construction.

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