The Government is to break ground for the construction of a two million tonne alumina plant.
The announcement was made on Tuesday afternoon by Mining Minister Mike Henry at a media briefing.
Mr. Henry said the recent push by Chinese firm JISCO to expand the bauxite and alumina industry has led to a number of investment commitments including the expansion of the recently re-opened Alpart plant, a new aluminium foil and stainless steel plant, a aluminium sheet plant, as well as the expansion of Port Kaiser to accommodate mega ships.
Other commitments are also being considered for this fiscal year.
In addition, the Jamalco alumina refinery will next month break ground for the construction of a 120 megawatt power plant.
The plant is expected to create 1,000 jobs.