TransJamaican Highway Unveils New Concession and Tech Upgrades to Enhance User Experience and Revenue

At its General Meeting, CEO of TransJamaican Highway, Ivan Anderson, revealed to stakeholders the company’s latest developments, that government signed for a 12-year concession for that May Pen to Williamsfield piece of road expected to fetch another US $9 million a year.

Anderson said the company plans to commence toll collection on the new section by mid-August, provided the government gives relevant notification. The Highway’s 2023 revenues reached US $75.2 million, and it has already earned US$19.8 million in its 2024 first quarter.

TransJamaican Highway will manage this segment through a distinct subsidiary. This will limit risks and liabilities of the main parent company, and that dividends will continue to be paid to shareholders. The company is also seeking concessions for new toll roads, including the North South Highway and the new North Coast and Montego Bay perimeter roads.

Anderson, however, stressed that new toll roads would have to work within the current agreements of the company without causing it legal problems. TransJamaican Highway is concentrating on technology and infrastructure improvements to make the user experience better.

A partnership with Rubis is to be added at the Portmore facility to further address customer need. Real-time tag payments updates, plus a new WhatsApp top-up feature, now make paying tolls even easier. Additional reversible lanes at Portmore Toll Plaza will help reduce congestion.

It will also bring up customer ease by on-site tag sales and increased tag penetration, reaching up to 80% of the road users in the coming three to four years. TransJamaican Highway is planning to implement tag top-ups through various retail outlets.

The company is constructing new ramps at a cost of US $330 million for serving extra vehicular traffic, being created due to the development of more population centers that should boost up May Pen revenues by 6%.

These strategic moves are expected to add 12% to the overall revenues next year, maintaining growth and adding more value to motorists who will use the TransJamaican Highway.