Jamaican News

Prime Minister Welcomes $3-Billion Investment by Seprod

Photo: Rudranath Fraser

Prime Minister, the Most Hon. Andrew Holness (fourth left), cuts the ribbon to officially open the Seprod Group’s new $3-billion state-of-the-art grains mill, Jamaica Grain and Cereals Limited, during a ceremony at the facility’s location on Felix Fox Boulevard in Kingston on Thursday (March 15). Also participating (from left) are Minister of Local Government and Community Development, Hon. Desmond McKenzie; Opposition Spokesman for Development and Physical Planning, Anthony Hylton; mother of Seprod’s Chairman, Paul B. Scott (pictured fifth left), Susan Scott; Member of Parliament for St. Andrew North Western, Dr. Nigel Clarke; Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl Samuda; and Chief Executive Officer (CEO), Commodity Trading and Milling and President, Seaboard Overseas Trading Group, Seaboard Corporation, Dave Dannov. Also pictured in the background is Seprod’s CEO, Richard Pandohie.

Prime Minister, the Most Hon. Andrew Holness, has welcomed the launch of the Seprod Group’s new $3-billion state-of-the-art grains mill, Jamaica Grain and Cereals Limited, which has created employment for 300 more Jamaicans.

“It is an important signal when one of the largest food manufacturers in the Caribbean undertakes such an expansive investment,” Mr. Holness said, at a ceremony to officially open the facility at Seprod, located on Felix Fox Boulevard in Kingston on Thursday (March 15).

The Prime Minister said Seprod’s new venture is significant, as it puts the country “on a good footing for (continued) growth,” adding that he is pleased to see that level of investment in downtown Kingston.

“What Seprod is doing is taking a calculated risk to ensure its success and is confirming its significant role within the virtuous cycle of business success and national economic growth,” he said.

The Prime Minister emphasised that the Government continues to support the private sector by creating a stable and predictable environment where businesses can take the calculated risks required to invest and earn a profit from their investments.

“The Government has created an environment where entrepreneurs can take calculated risks (on investment), and we want to see more entrepreneurs, more businesses, whether it is in manufacturing or agriculture (taking more risks), and we are making sure that the environment is one which (facilitates this),” he said.

Mr. Holness said he is pleased that the investment, which also represents a milestone in Jamaica’s reindustrialisation, will assist with economic growth through import substitution.

He thanked the Seprod Group for continuing to demonstrate confidence in Jamaica, assuring that the Government will continue to play its role in facilitating the private sector in creating growth.

The multigrain milling facility, which involves a partnership with Seaboard Corporation, will produce the company’s new Gold Seal Flour brand and corn products.

The Seprod Group manufactures and distributes edible oils and fats, dairy and fruit beverages, corn products, flour, sugar, baked snacks and other household consumer products.

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