Kingston Wharves CEO Mark Williams
Kingston Wharves says it will be investing US$100 million (J$15.44 billion) on capital projects in order to support its growth during the next five years.
The company is projecting revenues of $20 billion annually and consolidated profits of $5 billion by 2030 based on these capital investments, which will lead to an expansion of its transshipment business and its overall operations into Western Jamaica.
This is according to the Chief Executive Officer Mark Williams, who was recently addressing the company's shareholders at its annual general meeting.
He also revealed that this will include the acquisition of 50 acres of the land on which the Tinson Pen Aerodrome is located.
Mr. Williams said the land is needed to double the number of motor vehicles, which it handles from the current level of 180,000 annually in two to three years' time.
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