The Full Story
The Future Energy Source Company Limited (FESCO) has expanded its network to 18 service stations across the island, the most recent being the Coore’s Ferry FESCO Service Station on the Mandela Highway in Kingston.
Since the company began operating its dealer-owned stations in February 2013, it has made a remarkable transformation and is currently valued at $2.8 billion.
Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, who delivered remarks at the official opening of the service station on Tuesday, December 13, said: “This ‘Destination Station’, strategically located off the busy Mandela Highway, makes FESCO a critical partner among Jamaica’s motoring public, particularly those traversing sections of Kingston, Portmore, Spanish Town and Clarendon each day.
“FESCO is truly a Jamaican brand whose profits are earned on the island, retained here and reinvested into the company,” the Minister noted.
He argued that it is FESCO and other players in Jamaica’s transport and fuel market who will remain vital in the continued growth as a country.
“Indeed, all commercial activities require reliable transportation, and by making the movement of people and goods increasingly efficient, we are improving production and the overall stimulation of economic growth,” the Minister said.
Senator Hill pointed out that government initiatives, such as the Special Economic Zone and Global Digital Services Sector, are helping to expand international partnerships that will support companies such as FESCO as they expand into new areas of service.
“I notice that FESCO intends to enter the liquefied petroleum gas market in the next three years, and we welcome this bold move… . It is your preparedness to diversify operations and your insistence on quality that have been a major impetus to your current success and more in the coming decades,” he added.
The Minister said that FESCO has taken steps to ensure its products align with important quality standards, such as those established by the American Petroleum Institute (API) and the Society of Automotive Engineers (SAE).
He urged FESCO to continue examining service standards and to ensure they consistently meet the evolving needs and expectations of consumers.
The Minister said there are opportunities for FESCO to do so through accreditation and certification bodies such as the Jamaica National Agency for Accreditation (JANAAC), Bureau of Standards Jamaica (BSJ) and the National Compliance and Regulatory Authority (NCBJ), all of which are agencies of his Ministry.
These agencies have been empowered to assess, regulate and affirm quality management systems against various local and international standards.
“I applaud your efforts to grow and to diversify your business. I also look forward to seeing how you will position your company as new opportunities emerge in the local business landscape. Continue to invest bountifully in Jamaica to earn excellent returns,” the Minister said.