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KGF invests $250,000 in Island Quarries

January 20, 2020 4:35 pm
Kinetic Growth Fund Limited has invested over $250,000 into Island Quarries Pte Limited.

Kinetic Growth Fund Limited has invested over $250,000 into Island Quarries Pte Limited.

Island Quarries operates the recently commissioned Mau Quarry, located on a 29-hectare site in Mau, Namosi.

Through its hard rock quarry operations, Island Quarry is involved in the extraction and supply of rock materials for the Building & Construction industry.

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KGF Board chair Erik Larson says there are several reasons why Island Quarry was of much interest to them.

Larson says for KGF, the Quarry represents direct exposure to the Building and Construction industry, which is fundamental for Fiji’s economy.

The recently completed UNDP report shows that this industry now contributes up to $370m per annum to Gross Domestic Output.

Larson says KGF’s investment will assist IQL in taking the next step in its growth path with a significant increase in its production capacity and the spread of products.

Their investment will be mainly used to the purchase of equipment and fabrication of fixed plant to increase in both production capacity and number of products for the domestic and international markets.

 

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