Jamaica Producers Group Limited (JP) and Eppley Limited today (November 24) announced that they have formed Capital Infrastructure Group (CIG) to invest in infrastructure projects across the Caribbean.
JP and Eppley will control and manage the joint venture as equal partners.
The joint venture is funded by capital commitments from both companies as well as anchor investor NCB Capital Markets Limited.
JP and Eppley each already own and operate significant infrastructure assets including ports, energy and water projects. The newly formed joint venture will allow both companies to increase the scale and scope of their future infrastructure investments.
JP and Eppley, through CIG, recently formed Rio Cobre Water Limited in partnership with Vinci Construction Grands Projects, a member of the Vinci Group, one of the largest construction groups in the world operating in more than 100 countries. RCW in turn has entered into a public-private partnership agreement with the National Water Commission to design, build, finance, and operate a 15 million gallon per day water treatment plant under a 25-year concession.
In speaking about the joint venture, Jeffrey Hall, chief executive officer of JP, remarked: “JP and Eppley each have strong track records of successfully deploying capital on behalf of their investors. We look forward to exploring new infrastructure investment opportunities together.”
Nicholas Scott, vice chairman of Eppley, said: “Private sector investment in infrastructure can greatly benefit communities across the Caribbean while offering regional investors a stable, attractive source of income. Eppley is privileged to partner with JP to continue to build our infrastructure platform.”