Chief Executive Office of the Agro-Investment Corporation Vivion Scully says the corporation recently completed a 25,000 square foot processing plant in Essex Valley, St. Elizabeth.
He says the AIC is negotiating with private investors to take over its operations in 60 days.
Mr. Scully adds that two more storage facilities will be built in Coleyville and at Kirkvine in Manchester, while pointing out that discussions are underway with the private sector to convert the Spanish Town Road AMC complex into a modern agro processing centre.
The corporation manages eight agro parks, which are being operated between 60 and 70% of their production capacity.
The plan is to increase the number of agro parks to 10 by the end of this year. The two new parks will be in St. Ann and St. Catherine.
Meanwhile, Mr. Scully said the AIC has a land bank of 12,000 acres which the company plans to increase to 20,000 acres during the next five years.
These lands will be leased to investors at costs of $20,000 per acre per year.
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