Guardsman Group eyes aquaculture for 500-acre farm
Published:Wednesday | February 15, 2012 | 12:00 AM
Avia Collinder, Business Writer
Guardsman Group has added a 500-acre property to its leaseholdings, which is being considered primarily for further diversification of the company into aquaculture, director of finance Vinay Walia said Monday.
Guardsman is a securities company, but the Kenny Benjamin-owned group also has businesses that include pest control, zoo keeping and gym operation.
Walia said the lands in St Catherine were leased for a period of 25 years from SCJ Holdings Limited and Sugar Company of Jamaica Limited, but did not specify the terms.
The farmland, located between Spanish Town and Old Harbour, is "part of the response by the call from the government to the private sector to get involved in farming," he said.
The company is looking at ornamental fish, instead of the farming of tilapia which has met with mixed fortunes in recent years.
The fast-food sector was previously a strong market for locally-farmed tilapia, but its biggest supplier, Jamaica Broilers Group, gave up local markets, saying it was near impossible to compete with cheap imports of filet and whole fish from China and other nations.
"We are investigating the possibility of going into aquaculture, with further plans to engage young people in Kingston and St Andrew in ornamental fish sales. It's all part of encouraging them to become entrepreneurs and move to the next level," Walia said.
He indicated that some of the land which is primarily under sugar cane might be kept as is.
"We are currently conducting soil tests to see if the some of the land can become productive in this area once more with fertilisation. The land has become run down," he said.
The investment follows Guardsman's late 2010 acquisition of property at 6-8 Water Lane in downtown Kingston from the Urban Development Corporation for J$39.6 million.
Established in 1977, Guardsman Group began by offering trained guard dogs and later armed and unarmed guards for corporate and residential clients. Benjamin's operation now comprises 12 companies which operate in Jamaica, St Vincent & the Grenadines, St Lucia and Barbados.
Subsidiaries include Nature's Paradise, Orkin Limited, Guardsman Limited, Marksman Limited, Guardsman Armoured Limited, Guardsman Alarms, Guardsman Elite and Gymkhana fitness centre.