Rails to waste - Defunct railway continues to lose millions
published: Sunday | May 1, 2005

This train at the old railway station in downtown Kingston is covered with bvush ..

MORE THAN a decade after the Jamaica Railway Corporation (JRC) ceased operations to brake galloping losses, the defunct company is still haemorrhaging millions of dollars annually and is currently hauling a half-billion-dollar debt.

Financial statements acquired under the Access to Information Act indicate that if the Government does not attract a serious investor soon, the ageing rail company, with an estimated $3 billion asset base, may continue on a track to nowhere.