Prime Minister Dr Andrew Holness is commending Caribbean Cement Company Limited (Carib Cement) for its J$7 billion investment into its latest project, a modern, energy-efficient kiln at its Rockfort plant in Kingston.

Holness in a statement on Monday (June 30), outlined that the purchase marks a significant investment in Jamaica, its people, its economy, and its future.

“Carib Cement is a household name. Almost every Jamaican knows about Carib Cement. It is a source of national pride and a symbol of Jamaica’s manufacturing and industrial capabilities,” Holness said.

Holness revealed that for several years, Carib Cement floundered in terms of reinvestment in the plant, but in recent years, he revealed that there has been significant investment made in the plant. “Today, we are here to unveil the opening of a new kiln. This kiln is breaking down material at a temperature of over 1,000 degrees centigrade. I’m told it literally converts the input, which would be gypsum and limestone, converts it to lava. So you could imagine the heat requirement that is necessary, the energy requirement that is necessary,” Holness added.

The kiln uses old tyres and recycles them in the production process, and could also use other forms of waste.

“So this investment reduces emissions, reduces the cost of production, and helps with our environmental and waste disposal issues. It reduces the downtime of operations, but it gives stability to the price of cement and the supply of cement.

“And of course, maintains the quality. So this investment is so important on so many levels for Jamaica. But the important thing, in my opinion, about the investment is that it facilitates the growth and further development of our labour force in the technical science and engineering area,” Holness continued.

The prime minister also stated that this development is not only beneficial in terms of returns for Carib Cement and its investors, but also generates significant external benefits for the entire Jamaican population. “And how was this possible? It is possible because the investors feel quite comfortable putting down seven billion Jamaican dollars in the Jamaican environment because they are certain of our tax policies.

“They are certain of our industrial policies. They are certain that the exchange rate will be stable for a long time. And they are certain that the government is serious about development. They are also certain of what our environmental standards are and what we require of them. And that, in a package, is the impact of good policy on development. Industry by industry, business by business, we are developing Jamaica. And I always encourage choose Jamaica, ” Holness said.