By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

A newly-formed Bahamian manufacturer yesterday said it plans to grow its $6m investment and initial 16-strong workforce into a full-scale construction supply operation within two years.

Mitchell Thurston, Bahamas Mineral & Manufacturing Corporation’s (BMMC) chief executive, said “access to and affordability of land”, as well as reliable infrastructure and Freeport Container Port’s position as “gateway to the entire world”, meant the company had elected to establish its base in Grand Bahama.

“Our headquarters, which we refer to as BMMC Park, will sit on a five-acre lot and will include a 12,000 square foot structure,” he explained. “This structure, in particular, will serve as our main factory building and will house our key equipment, which is our PVC pipe extrusion lines. As a matter of fact, we are currently finalising the order of those lines and expect their arrival within the next six months.

“Since making this decision, we’ve been welcomed with open arms by the Grand Bahama Port Authority, who has time and time again reassured us that they will continue to do whatever it takes to make this multi-million dollar Bahamian project a reality.”

BMMC’s total start-up investment is $6m in the PVC pipe manufacturing operation, which requires a 16-strong workforce. The plan is to develop into a full-scale construction manufacturing operation within the next two years as demand picks up.

Mr Thurston said: “Financing is being raised from various private sector investors and, if anyone would be interested, they can reach out to any of us on the status and we will be happy to share further information with them. Based on confidentiality, investor confidentiality, we won’t say names or company names.

“But what I can say is in the next few weeks, we expect to have some major announcements, which we’re very excited about, from some private individuals as well as private sector companies.” As to why BMMC selected PVC pipe manufacturing as its first product line, Mr Thurston added: “We shortlisted a range of products and came to understand that PVC pipe is the best product for us to initiate our company.

“Because every inch of pipe used in this country is important. While we were both aware that this would have been a mammoth task, we saw it as an opportunity for us to revolutionise an industry that is basically dormant in our country and fully committed ourselves to our company, because of the potential that we knew it had.”

“I thought that I could be a part of that difference and manufacture products locally, specifically construction grade products, because of the constant demand and resiliency of the construction industry.”

Raw materials for the PVC pipes are being sourced from the US and Bangladesh primarily. Given the supply chain challenges and rising inflation’s impact on the prices of almost all goods, Mr Thurston said: “Prices of the raw material themselves actually fluctuated or rose before the prices of the actual product that we were receiving here.

“So from when we started the journey, we were advised by some of the raw material vendors that the price is high now because of certain factors and they haven’t dropped yet, so we were diligent enough to ensure that we include all of that in our financial projections - any type of fluctuations that may occur.”