Paramount makes $600m investment with lubricants plant

CEO of Allegheny Jim Kudis (left), Opposition Leader Dr Peter Phillip and CEO of Paramount Hugh Graham. (Photo: Anthony Henry)

Paramount Jamaica Limited officially opened the 13,500-square-foot lubricants manufacturing plant on Waltham Park Road, St Andrew with a promise to employ approximately 200 workers.

Raw materials will be brought into the island for processing at the plant that cost close to $600m.

The lubricants to be manufactured are engine, hydraulic, gear, circulating, marine, transmission fluids, coolants and greases. Ninety per cent of the products to be manufactured at the plan will be distributed locally.

The investment is made along with Allegheny Petroleum Products Company from the United States of America. The plant was opened on Tuesday (Oct 1)

Both Jim Kudis, CEO of Allegheny and CEO of Paramount, Hugh Graham said the products will be among the best on the local market as the company will use technology and insider knowledge to ensure that the product is of international standard.