In a matter of months, food manufacturer Seprod Limited will enter a market that has had a sole player for decades, the manufacture of flour, under partnership with a foreign firm that acquired a piece of its grains business more than a year ago.
Through Jamaica Grain & Cereals Limited, the partners have already poured funds into a new factory and development of grain silos on the wharf to facilitate imports of wheat, and at the plant on Felix Fox Boulevard in Kingston.
The overall budget for the project was not disclosed, although Gleaner Business was told that the spend could rise to around US$30 million, or $3.9 billion in local currency.
Seprod CEO Richard Pandohie says the factory should be commissioned by around end September or October, but he refused to confirm outright that the company is planning to operate a flour mill. He has not named the new foreign partner for Jamaica Grain, but Companies Office records suggest it might be American shipping and trading company Seaboard.
Published in the Jamaica Gleaner
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