Regency Petroleum Limited (RPL) will invest between $35 million and $40 million to make and distribute a new asphalt filler designed for road repairs, marking its first major move beyond fuels.
The company has signed a deal with US based Quality Pavement Repair (QPR) to introduce the product locally. CEO Andrew Williams described the venture as “a new chapter for Jamaica’s infrastructure future,” noting that QPR can be applied in wet or dry conditions, requires no heating and allows roads to reopen immediately after compaction.
“We always say, feasible and viable opportunities for our shareholders to benefit, for the company to benefit and even the country to benefit … this allows for diversity, not only full dependence on our petroleum products,” Williams said at the launch event in New Kingston.
RPL plans to begin local production within 60 to 90 days, with Clarendon and St Catherine identified as initial sites. Small volumes will be imported to meet immediate demand. Williams said aggregate makes up 95 per cent of the raw material, giving Jamaica’s quarry sector a direct role and opening export opportunities across the Caribbean.
The company positions QPR as delivering up to 40 per cent cost savings compared with conventional methods. The value proposition is aimed at cash strapped local authorities, hardware distributors and regional buyers.
Williams said the measured capital outlay reflects a strategy to validate demand before scaling. “We want to start the operation to see the demand for the product … before we go heavy,” he said.
Audited results show revenues up 24 per cent to $2.02 billion, the highest since its initial public offering, and net profit climbing 32 per cent to $114.5 million, or $0.075 per share, for the year ended December 2025. Gains came despite a volatile macroeconomy affected by the passage of Hurricane Melissa.
neville.graham@gleanerjm.com
