Thursday 22 August, 2019

Red Stripe gets 25-year lease for cassava production

(From left seated) Ricardo Nuncio, managing director of Red Stripe; Industry Minister Karl Samuda and Wentworth Charles, chairman of the Sugar Company of Jamaica, sign documents for the leasing agreement.

(From left seated) Ricardo Nuncio, managing director of Red Stripe; Industry Minister Karl Samuda and Wentworth Charles, chairman of the Sugar Company of Jamaica, sign documents for the leasing agreement.

Red Stripe Jamaica and Sugar Company of Jamaica Holdings Limited (SCJ) on Friday signed a 25-year land lease agreement that will allow the brewers the opportunity to increase its cassava growing capacity for beer production.

The deal, signed at the St Lucia Avenue offices of the Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF), will give Red Stripe 247 hectares or 610 acres of land as well as the facility at Windsor and Worchester in St Catherine.

Red Stripe will embrace the deal as part of its Project Grow agricultural strategy aimed at increasing the use of locally sourced raw materials.

The beer maker aims to have cassava representing 40 per cent of input in its brewed products by 2020 - replacing the imported maltose syrup (HMS).

Among those who participated in the signing on Friday, were Karl Samuda, Minister of Industry, Commerce, Agriculture and Fisheries along with his permanent secretary, Donovan Stanberry; Ricardo Nuncio, managing director of Red Stripe; and Wentworth Charles, chairman of the SCJ.

The SCJ is the land management agency of the Ministry of Industry, Commerce, Agriculture and Fisheries.

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