Jamaica’s Petroleum Industry is poised to benefit from a partnership between Paramount Trading Jamaica Ltd and one of America’s largest fuel additive manufacturers, Allegheny Petroleum.
This will see local production and distribution of automotive lubricants and oils at the newly constructed factory on 39 Waltham Park Road in Kingston.
The groundbreaking ceremony of the 13,500-square foot plant happened earlier today.
The project-value is approximately six hundred million Jamaican dollars.
About fifteen persons are employed at the plant, but CEO of Paramount Jamaica, Hugh Graham says with a full build out, approximately forty persons will be employed.
Under their 50:50 partnership, Allegheny Petroleum will provide all the equipment for the factory, including an I.T platform, tanks and pumps.
CEO of Allegheny Petroleum, Jim Kudis, Says the products will be of high quality and will be made by Jamaicans for Jamaicans
The new site will also boast a laboratory for the analysis and testing of oils, allowing the company to in-source those functions currently done overseas.
Jamaica’s Industry and Commerce Minister, Audley Shaw and Opposition Leader, Dr. Peter Phillips commended both companies.
