11 January 2011
An agreement was signed by the Government of Haiti to develop a 250 hectare industrial park in Haiti’s North Corridor, with Sae-A Trading Co. Ltd., a leading Korean manufacturer, as the anchor tenant. Taylor-DeJongh, serving as exclusive financial advisor to the Government of Haiti, worked in close cooperation with the Inter-American Development Bank and the US Department of State, both of which are supporting the funding and development of the Park and related power, water and logistics infrastructure. TDJ is currently advising the Government of Haiti on the development of the Park, defining the commercial structure, negotiating with tenants, and promoting the Park to potential tenants.
The North Industrial Park is a significant investment initiative for Haiti, and will initially be supported by approximately US$170 million in funding from the US Department of State and the Inter-American Development Bank. The Park will be the largest industrial park development in the country. Sae-A Trading Co. Ltd. is expected to invest US$70 million for facility development, machinery and equipment, and employ 20,000 Haitian workers, which will make it one of the largest employers in Haiti. The fully-developed park is expected to generate over 60,000 permanent jobs. The Park is planned to be operational Q1 2012.
For further information, please contact Taylor-DeJongh: 1 202 775 0899.