FCJ Plans To Spend $1.1 Billion On Capital Projects

For fiscal year 2022/23, the Factories Corporation of Jamaica (FCJ) plans to implement capital programmes valued at $1.174 billion.

This is outlined in the 2022/23 Public Bodies Estimates of Revenue and Expenditure, tabled in the House of Representatives by Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, on February 10.

Under the programme, work is set to continue on the redevelopment of Garmex Free Zone, which involves the construction of four factory buildings, providing 90,000 square feet of commercial and industrial space.

The FCJ also plans to commence the construction of another 36,000 square feet of warehouse space for small and medium enterprises during the second quarter of financial year 2022/23.

Plans are also in place for the development of Garmex Free Zone Phase 2, and so far, the FCJ has completed the design of three buildings totalling 96,000 square feet. Construction is expected to commence during the year.

Efforts will also be made to upgrade and improve other FCJ facilities to make them more attractive and supportive of micro, small and medium-sized enterprises.

Meanwhile, the Morant Bay Urban Development Centre (MBUC), which is being implemented via a joint-venture agreement, will remain a key developmental project during the year.

So far, detailed designs are complete for the construction of a 448,000 square-foot integrated business complex.

The MBUC will house both public and private entities, including the Parish Court House and the St. Thomas Municipal Corporation.

The FCJ was incorporated under the Companies Act of Jamaica in 1987 and is wholly owned by the Government of Jamaica.

FCJ currently owns/controls 1,694,356 square feet of factory space, and approximately 400 acres of land