Factories Corporation of Jamaica Limited (FCJ) and the FosRich Group of Companies have raised the shutters in a partnership which is expected to boost economic activities in the Hayes community of Clarendon.
FosRich has inked a 25-year deal with FCJ to occupy 120,000 square feet of space across two warehouses at FCJ’s Hayes Freezone in Hayes, Clarendon. As part of the company’s expansion project into transformer repair and manufacturing, FosRich is expected to invest over 100 million dollars, while employing 250 persons over the next year.
Speaking at the handing over ceremony on Tuesday July 21, 2020, FCJ’s Chairman Lyttleton ‘Tanny’ Shirley explained that FosRich’s partnership with FCJ is significant because it shows that as a local company, which is now on the stock market, FosRich is showing confidence in the economy by expanding into new ventures to facilitate the manufacturing and distribution sectors.
“We endorse it 100 percent, we have confidence in you. We have done our due diligence because when we rent space, we ensure that our clients fulfil the mandate of being able to create jobs, to be sustainable, to invest in Jamaica and to invest in our people,” explained the FCJ Chairman.
The electrical lighting company recently signed a deal with light and power company, Jamaica Public Service to repair transformers. In the past damaged JPS transformers would ship overseas to have them repaired. This deal with FosRich will now see the repairs being done locally at FCJ’s Hayes Freezone.
According to FosRich’s Chief Executive Officer Cecil Foster, “this move is going to save JPS close to a billion dollars. It’s going to save them on shipping and using foreign exchange to pay for these things by just working with a local company and getting it done here”.
The company within the next couple of months is expected to be up and running with the first phase of its operations, which involves transformer repairs. In the second phase the plan is to manufacture these transformers in Jamaica. These transformers will then be exported to countries in the region experiencing similar challenges.
FosRich will kick start its operations with 25 skilled employees. A challenge identified by the CEO however is finding these employees in that section of the island.
“We have a challenge and we have looked at it seriously … getting the workers we require because of what we are doing here. The first phase requires real technical persons … engineers and persons who are trained in electrical technology from recognised institutions. That body of people is mainly centred in Kingston and so on … we are hoping that persons from May Pen and surrounding communities who would have migrated to get education in Kingston and come back home, would want to work from this location” said the FosRich CEO.
In response Member of Parliament for South Eastern Clarendon Pearnel Charles Jnr thanked FosRich for taking the risk to invest in the community. He has given the assurance that he will work to ensure that his constituents are trained and empowered to be absorbed into the unique types of jobs that will become available.
“I know you are ready to start right now and that you may have to seek talent elsewhere but let me put FosRich on notice, we are going to put in place for you and for all of the additional spaces that will be here, a training programme in South East Clarendon to prepare the constituents to take up all the opportunities that you have to provide,” said the Member of Parliament.
Supporting FosRich at the Hayes Freezone, FCJ intends to redevelop the 25-acre property, to house mini warehouses for small and medium sized businesses. Also included in the redevelopment will be an agro market to support the farming community.
