TCL GROUP EXPANSION

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00:00The Summer Regional Business News TCL Group, Jamaican subsidiary, Caribbean Cement Company Limited,

00:07has successfully commissioned its $42 million USD bottleneck project at its Rockford facility in East Kingston, Jamaica.

00:15At a ribbon-cutting ceremony held on Wednesday, Jamaica's Prime Minister Andrew Holness referred to the expansion

00:21as the link between industrialization and social transformation.

00:26When we invest in factories, we invest in our families, yes.

00:33When we strengthen our productive capacity, we strengthen our national development.

00:40And this project does more than supporting housing.

00:45It supports jobs, the construction phase employed scores of engineers, tradesmen and technicians.

00:54Also speaking at the ceremony was Jamaica's Minister of Industry, Investment and Commerce, Senator the Honourable,

01:01Aubin Hill, who commended the company for helping the government of Jamaica to build economic independence.

01:09$42 million, that's the equivalent of $6.7 billion Jamaican dollars.

01:16That's what we're here celebrating today.

01:20That is the Caribbean cement amount that is invested in this country.

01:26The project increases productivity.

01:30It cuts or reliance on imported materials and puts Jamaica in a position to export to the Caribbean.

01:40And today, I congratulate all the people involved with the Caribbean Cement Company Limited expansion

01:49because this is an important part of building out that economic independence.

01:57Alejandro Ramirez, Regional President for South Central America and the Caribbean at CEMEX,

02:03the parent group of TCL Group, reaffirmed the company's commitment to Jamaica and the region.

02:09Just to give you some numbers, in the last five years, we have invested in this operation close to $100 million.

02:21The last five years, close to $100 million, U.S. dollars.

02:25So, let's give some perspective of that.

02:31$100 million can allow us to build three cement mills.

02:37With that money, we could build three cement mills.

02:40So, we have been expanding.

02:43We have been investing on having more environmental-friendly operations, and we will continue doing that.

02:49And we are expanding, not just to serve the local market, but also to export.

02:56We want to become an export powerhouse in the region.