Jersey

Three of Jersey's States utility firms worth £326m

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Image caption States owned companies Jersey Post, Jersey Water and JT are worth £326m

Three of Jersey's States owned utility companies are worth £326m, an increase of £72m from 2010.

Jersey's Treasury Minister, Senator Philip Ozouf, has published the 2011 accounts of Jersey Post, Jersey Water and Jersey Telecom.

He said: "The increase is largely due to an increase in the value of Jersey Telecom (JT).

"The £41.5m investment JT is making in superfast broadband through Gigabit Jersey is on schedule and on budget."

More than 80 unemployed islanders were recruited to work on the project.

Senator Ozouf said the value of the States of Jersey's fixed assets, which included land, property and infrastructure, was almost £3bn, up by £154m since 2010.

The States also owns Jersey Electricity and the States of Jersey Development Company.

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