Grantley Stephenson, chairman and chief executive officer of the Kingston Wharves Group, has signalled the company’s intent to undertake an aggressive plan of expansion over the next five years. The Group is set to invest more than J$2 billion in its first phase of activities, which involves the construction of a 150,000 square foot state-of-the-art logistics centre in Newport West. Construction of the new facility will commence within three months and is expected to be completed in 2015.
The company also plans to undertake the relocation of its on-dock warehouses and the retrofitting of a recently acquired property in its first phase of expansion, which, according to Stephenson, will significantly increase Kingston Wharves’ container-handling and storage capacity.
Industry, Investment and Commerce Minister, Anthony Hylton, praised the company’s efforts and foresight during his contribution to the 2014-15 Sectoral Debate in Gordon House on Wednesday (21/5/2014) while announcing that more than 150 new jobs would accompany the initiative’s development phase.
Mr Stephenson said, “These plans form part of a well-coordinated strategy by Kingston Wharves, which will ensure we are forerunners in the logistics business throughout the Caribbean.” He also revealed that the recent granting of Free Zone Status to KW will enable the Group to attract some of the leading logistics chains to Jamaica, bringing success to the country’s global logistics hub agenda.
The new logistics centre, which the company dubs its ‘Total Logistics Facility’, will also result in an improved and more seamless experience for KW’s local warehouse customers through its incorporation of the full range of processes involved with the movement of cargo under the same roof.
Warehouse space
The CEO pointed out that given the local forecast for growth in logistics, the company has included in its plan preparations to offer additional modular warehouse space to local and international business partners sized at a minimum of 10,000 square feet.
Kingston Wharves invested just under J$3 billion in 2009 in the rehabilitation of berths eight and nine of its port facility. Subsequent phases of expansion will see the company spending substantially more for further development work and towards the acquisition of new cranes. This will ensure its readiness for the increased throughput expected from an expanded Panama Canal.
“Kingston Wharves is looking to increase its cargo volumes to one million twenty-foot equivalent units per year within the next five years and the execution of our plans for expansions are critical prior actions that will enable that goal,” Stephenson said.
– Jamaica Gleaner
