Caribbean Cement Co Ltd's Managing Director, Jorge Martinez, reported to the company’s shareholders that one month into the operation of the newly upgraded plant at Rockfort in Kingston, daily production of cement was already exceeding expectations, but further optimisation is expected.
“Right now, with one month since we finished the project, we’re seeing daily clinker production above our business case,” Mr Martinez said at the Caribbean Cement’s annual general meeting. “In 2026, we expect to see an increase in capacity of at least 150,000t.”
The expansion project, which cost JMD6.7bn (US$42m), was completed earlier this year and initially set out to raise production from 1Mta to 1.3Mta. Martinez, who was appointed head of the cement plant in December 2023, downplayed the initial goal, according to the Jamaican Gleaner.
“There is some misinformation or imprecise numbers about the one to 1.3Mt because it depends on the baseline,” he said. “But right now we expect to exceed 150,000t. Plus, in the second half of 2025, we’re considering additional production above regular levels compared to 2024,” he said.
In addition to boosting domestic output, Caribbean Cement, Jamaica’s only cement manufacturer, plans to export 28,000t of the commodity to Caribbean markets, starting as early as August, subject to demand. Regarding supply concerns, Mr Martinez said: “Right now, we are not seeing any need to import cement”.
Production in 2024 dipped due to extraordinary activities, including a two-month shutdown of the kiln to accommodate the upgrade. The kiln was offline for installation of final equipment. “The production in 2024 is difficult to say because we stopped the kiln for two months,” he explained at the meeting. Based on the company’s presentation to shareholders, domestic cement sales fell from 1Mt to 950,000t in 2024, reflecting the short-term impact of the shutdown.
Despite this decline, the Carib Cement maker sustained growth in revenue, hitting annual sales of JMD27.9bn in 2024. In the January-March 2025 quarter revenue hit JMD8.2bn, compared to JMD7.6bn a year earlier. Core earnings before interest, tax, depreciation and amortisation also increased from JMD7.8bn to JMD9.3bn, underscoring the company’s operational resilience. The first quarter profit improved to JMD1.99bn from JMD1.93bn a year earlier.
