A shipyard repair site now exists in Jamaica.

This, as the German ship repair Jamaica shipyard project, was launched on Wednesday, in Harbour View, along the sir Florizel Glasspole boulevard.

Speaking at the launch, chief executive officer at German Ship repair Jamaica Limited, Colonel Martin Rickman said the shipyard is an investment, that was long in coming.

He said, it will have several benefits for Jamaica and its economy.

The colonel added that the shipyard will attract new shipping lines, or business opportunities, to Jamaica.