CCC puts US$100m expansion on hold

CCC puts US$100m expansion on hold
Published: 15 November 2004

Jamaica’s Caribbean Cement (CCC) has reportedly postponed the US$100m capital investment in its Kingston plant because the government has not yet put into law a 40.8 per cent duty on imported cement, the Jamaica Observer reported.   In September 2003, CCC filed for protection with Jamaica’s antidumping and subsidies commission, saying it was being hurt by imports and needed to be protected while it upgraded its plant.   The plant upgrade plan came in anticipation of the lowering of tariffs that is expected under the proposed Free Trade Areas of the Americas (FTAA). The commission initially recommended a temporary tariff increase from 15 per cent to 40.8 per cent, which the government approved last December. In July this year, the commission said the tariff should remain at that level for four years, though that has not yet been written into law.