New subsidiary planned for Sri Lanka’s cement market
According to local media, Sri Lanka’s Tokyo Cement has established a new subsidiary, which will begin operating in 36 months. The new firm, called Eastern Cement Company Ltd, will produce cement, value added and tile cement products, as well as constructing and operating a biomass power plant. The power generated from this plant will be used by the company and will also be supplied to the national grid. Tokyo Cement is reported to be investing around Rs.8 billion in the venture.
The Sri Lankan cement market has recently attracted interest from foreign cement manufacturers. Pakistan’s Lucky Cement is said to be planning to construct a 500 000 t grinding facility in the country, while Thatta Cement has received approval for a cement grinding and packing plant at Hambantota port.
Edited from various sources by Louise Fordham.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/06022013/cement_tokyo_cement_lucky_pakistan_sri_lanka_856/
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