Gov't sells lands to Seprod for $55 million
The Government has sold what it calls unimproved lands at Kingston Pen to food company Seprod Limited for $55 million.
The Cabinet authorised the sale of the 2.3 acres of land previously owned by the Factories Corporation of Jamaica in October.
According to a Cabinet document tabled in the Parliament, Seprod intends to use the lands to expand its factory and build a warehouse.
The facility is to be used to store products for Seprod's marketing companies islandwide.
The Government said the proposed development is expected to involve significant capital expenditure and generate additional employment.