Prime Minister Dr. Andrew Holness says no money was borrowed to undertake phase one of the Garmex Freezone Redevelopment and Expansion Project, which cost 1.1 billion dollars.

He made the statement at the official opening of the facility along Marcus Garvey Drive in Kingston, today.

The Garmex Freezone is one of Jamaica’s largest commercial complexes of rentable space. 

Phase one of the project was officially completed in March last year.

Dr. Holness lauded Factories Corporation of Jamaica Limited for spearheading and funding the project.

He said over 340 million dollars in rent has been generated from the new facility.

The Prime Minister said phase two, which is underway, will cost over 3 billion dollars.