Caribbean Cement Company Limited (“CCC”) (JSE: CCC), in compliance with the Jamaica Stock Exchange Rules, announces that today [July 26, 2019] it executed a ten (10) year electricity supply agreement with the Jamaica Public Service Company Limited (“JPS”). The Parties had previously entered into a Power Purchase Agreement for the Supply of Electricity to Caribbean Cement Company Limited dated as of the 15th day of July, 1999 (“PPA”), pursuant to which JPS had agreed to make available to CCCL a supply of electricity at its manufacturing plant in Rockfort, Kingston, Jamaica.
This term of PPA having expired and CCCL having satisfied the Qualifying Criteria, JPS and CCL have agreed to continue to make available the supply of electricity to CCCL. This new agreement will be subject to regulatory filing with the Office of Utilities Regulations in accordance with JPS 2016 Electricity Licence.
This initiative forms a major element of CCL’s thrust for improved efficiencies through the fostering of mutually beneficial relationships with key stakeholders.