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KWL invests US$60 million

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  • KWL invests US$60 million

    Kingston Wharves Limited (KWL) will soon be able to accommodate two super post-Panamax vessels at the same time. This follows the implementation of expansion and capacity-building initiatives valued at US$60 million. The investment, which includes three initiatives, supports KWL's thrust to establish Jamaica as a global logistics hub, a feat which CEO Mark Williams said the company is well on its way to achieving.

    “Right now Kingston Wharves is the regional hub for one of the largest auto liner in the world in fact we moved over 150,000 car units last year. 70-80 per cent of that is for international markets. Last year, for example, we accommodated seven large auto liners within three days and that is phenomenal for any terminal in the world, more so in the Caribbean.”



    The three initiatives are: The Redevelopment of Berth 7, Ashenheim Road Warehouse Complex and Kingston Wharves' Crane #8 which was commissioned on Wednesday.



    Williams stressed that the combined expectation of these initiatives is to underpin Kingston Wharves' move into logistics services.



    “We've been in there before, what we're doing now is to have 300,000 sq ft of additional warehouse space. We'll be doing order fulfilment which we weren't doing before. So, we're going into the full suite of logistics and this will be a global business for us,” he said.



    In an interview with the Jamaica Observer, Williams noted that there's growing interest from countries who are looking to Jamaica as an ideal nearshoring territory.



    “The Americas, US, Canada, etc, are looking again at the Caribbean to hold that type of inventory, do that light manufacturing, etc, and Kingston Wharves is preparing itself to facilitate that type of economic development.”

    https://www.jamaicaobserver.com/busi...0?profile=1056
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