The East Caribbean Group of Companies (ECGC), plans to invest over EC$10 million in a new flour mill and other supporting capital projects in 2022 and 2023.

A release from the Campden Park- based company said this new investment is based on its confidence in the markets of the Organisation of Eastern Caribbean States (OECS), a major export area for ECGC, and in the wider Caribbean.

The company stated optimism that the Caribbean is emerging stronger in the post pandemic era.

Its Chief Executive, Officer J Robert Cato, said an increase in regional demand is expected and imminent. “This new Flour mill investment will increase our flour production capacity by 34%. We see export demand rising as markets recover post-pandemic across the region,” he said.

“Our animal feeds business is strong this grew by 15% in 2021 and we are on track for more growth. I am excited that we are able to create strong value for farmers, bakers, hotels, restaurants and homemakers across the Caribbean, “ Cato added.

The Brazilian firm, Sangati, will supply the flour milling equipment, while the Turkish-based milling equipment and construction specialist firm, Alapala are in discussions to supply the steel structure for the new mill building.

“In 2021, we launched a growth strategy focused on Plant Excellence, Commercial Agility and Profitable Export Expansion. This new mill and the supporting capital investments are in line with that strategy, and we expect the new flour mill to strengthen the innovation capacity of ECGC. We see a clear path for creating exciting baking products and adding significant value to our business. With this investment in technology, we will double the range of offerings we can provide,” Cato disclosed.

The new mill is slated for completion by mid-2023.

Some 70% if the company’s sales are achieved from exports to the Caribbean and international markets, including Canada and the United States. The Company has forged partnerships and consolidated to become the largest private sector venture in St. Vincent & the Grenadines, with a record of major successes.

The East Caribbean Group of Companies, which is this year marking its 45th year of operation has underscored the quality of its products to the markets it serves.

Founded in 1977 by P. H. Veira, in partnership with Maple Leaf Foods of Canada and the Government of St. Vincent and the Grenadines, the company has since expanded its product offerings to include, animal feeds, rice and beverages including water, juices, sodas and energy drinks.