The Antigua-based West Indies Oil Company is to roll out one of its most expansive projects yet, in another tell-tale sign of its expanding reach and growing investment footprint. The company is to invest XCD$40 million into the construction of a business park along Friars Hill Road, with work expected to begin in 2019. This was disclosed during the 2019 Budget Presentation by Prime Minister and Minister of Finance, Corporate Governance and Public Private Partnerships, Hon. Gaston Browne.
The initiative represents a further diversification of the company’s activities and an expansion beyond its core business of oil storage and distribution. The project is to be rolled out in proximity to WIOC’s headquarters, and is expected to catalyze job creation and further economic activity in Antigua and Barbuda.
The Business Park is among a slew of expansion initiatives being pursued by the company this year as part of a XCD$50 million dollar investment in further organic growth in 2019.