The Ministry of Industry, Investment and Commerce has granted approval for an import license to the W.T. Limited which trades as Growth Tech, Special Projects.
The license allows for the importation of 50-thousand Metric Tonnes of Ordinary Portland Cement OPC from Turkey.
The quantity is to be imported in several batches.
W.T LIMITED is a wholly-owned subsidiary of the Growth Tech Group.
The company was founded by businessmen, Garth Walker, Ryan Reid, and Neil Lawrence in 2017.
Currently, there are two main importers of cement on the island – the Caribbean Cement Company and The Buying House Cement Limited.
Caribbean Cement is also the sole manufacturer of cement, but a portion of the market is supplied from imports.
The import license has come amidst word among some stakeholders of a periodic shortage of cement in the market.
Recently, Carib Cement disclosed that as part of its growth strategy it plans to upgrade and increase the capacity of its cement production plant located in Rockfort by 30-percent.
The plant upgrade will enable Caribbean Cement to push cement production capacity from 1-million tonnes to close to 1-point-4 million tonnes a year.