Tank-Weld investing $300m In new warehouse
The Tank-Weld Group will invest $300 million to construct a new warehouse on Molynes Road in Kingston to expand its warehousing capacity.
The facility should be complete in three months following demolition of the plaza which stood on the property, Chief Executive Officer Chris Bicknell told Sunday Business.
With 20,000 square feet, the new warehouse will bring the company's Seaward Drive and Molynes Road holdings into one complex and expand the adjoining Kingston facility, Bicknell said.
"It's connected to 27 Seaward Drive which is our selling outlet. It goes right into that land so we have just opened up that land from our existing headquarters," he said.
The one-acre property housed a multistorey plaza with has been vacant for many months now, he said.
Demolition of the plaza began last week with roughly another week slated to clear the land before construction begins, said the businessman.
Tank-Weld has expanded its product offerings following the 2014 distribution deal with Century Eslon Jamaica Limited, a trader in PVC pipes and electrical cable manufactured by its Trinidadian parent.
"We are expanding and Century Eslon is one reason," Bicknell acknowledged.
The expansion will also facilitate the added inflow of business stemming from the deal, amid its own push to include other products, Bicknell said.
"The total investment will be around $300 million," he said, adding the warehouse will be fully automated and equipped with overhead cranes, as with the other warehouses owned by the group.
Some 20 new staff will be employed after the development is complete.
Outside of its core steel business, Tank-Weld also distributes lumber, cement and other hardware products such as plumbing items. The company has holdings in Trelawny that includes the Rio Bueno pier that was redeveloped in 2007.