Despite a global economic downturn, Canadian firm Cemcorp Cement is reportedly pressing ahead with plans to construct a US$200m cement plant and limestone quarry that will provide annual output 1.5Mt of cement and 5Mt of limestone, with sales largely geared towards export markets. The project would take 18 months to complete after receiving approval and breaking ground.
Cemcorp - which is joint trading company in Ontario, Canada, operated by a group of five individuals, through its Jamaican company, Cement Jamaica Limited - submitted its terms of reference (TOR) to conduct an Environmental Impact Assessment for the development of the Limestone mine at Rose Hall in the parish of Clarendon.
The proposed site for the cement plant is on approximately 30 acres of land on the south western section of the Windalco, Port Esquivel Property, where the administrative offices will also be located.
When first announced in 2007, Armand Nahmiache, president of Cemcorp told the Business Observer that "an estimated 90 per cent of the products will be exported to North America to satisfy current industry shortages there, including limestone for the desulphurisation of power plant gas emissions".
Then, an arrangement was put in place with local distributor, Arc Systems to deliver the remaining 10 per cent to the local market. At the time Nahmiache told the Business Obsever that the project would be financed by US$60m in equity, while the rest of the financing will be secured through debt.