East Caribbean Group of Companies (ECGC) says it will invest EC$10 million in a new flour mill that will see production capacity increase by one-third by mid-2023.
The company said that buoyed by optimism that the Caribbean is emerging stronger post pandemic, the new investment is based on its confidence in the OECS markets and the wider Caribbean.
J. Robert Cato, CEO at ECGC, said an increase in regional demand is expected and imminent.
“This new flour mill investment will increase our flour production capacity by 34%. We see export demand rising as markets recover post-pandemic across the region,” Cato said.
“Our animal feeds business is strong this, grew by 15% in 2021 and we are on track for more growth, I am excited that we are able to create strong value for farmers, bakers, hotels, restaurants and homemakers across the Caribbean.”
Brazilian firm, Sangati, will supply the mill flour milling equipment while Turkish based milling equipment and construction specialist firm, Alapala, are in discussions for the supply of the steel structure for the new mill building.
Cato said that in 2021 ECGC launched a growth strategy focused on plant excellence, commercial agility and profitable export expansion.
“This new mill and the supporting capital investments are in line with that strategy, and we expect the new flour mill to strengthen the innovation capacity of ECGC. We see a clear path for creating exciting baking products and adding significant value to our business. With this investment in technology, we will double the range of offerings we can provide.”