NCB chairman, Michael Lee-Chin is ditching the once ambitious agricultural project which was to be undertaken in Innswood Village, St. Catherine. Over two years ago Mr. Lee-Chin and other investors sketched out a plan to turn the 3,000 acres of land which was formerly part of Innswood Sugar Estates into an agricultural hub.
It was slated for growing an array of crops such as onions, watermelons, carrots, soursop orchards, and many more crops that were deemed to be profitable enough to make it a worthwhile investment.
Fast forward today, that once propped-up proposition, which was hailed by Agriculture Minister Audley Shaw as a model of agricultural entrepreneurship that others in the private sector should take note of, seems to be just a midsummer night dream.
That plan seemed to be off the table and is now substituted for a more lucrative real estate which probably made more sense for the investors and all parties involved.
Portland Holdings Inc, the investment company which acts as an umbrella of businesses for Lee-Chin is said to have been in talks with a major Caribbean-based housing developer to move the project forward.
This new revelation might have angered some people in the business community who thought that the first plan was better. From a core business perspective, it makes total sense to take the real estate option.
I am sure all parties involved have assessed the situation and came to the realization to choose the pragmatic plan which is the real estate project. Let’s see how this develops over time.
