Tokyo Cement plans US$50m plant in Sri Lanka

Byzhangli

Updated Thu, 25 Jul 2013 00:00:00 GMT

Sri Lanka: The Tokyo Cement Company intends to build a US$50m cement in Trincomalee, Eastern Province a top official has said. The new 1Mt/yr plant will be called the Tokyo Eastern Cement Company. The build will also include a captive 10MW biomass power plant.

"We are currently in the process of finalising a 33-year lease agreement with the government for the land to construct the factory," said Tokyo Cement Managing Director (MD), S R Gnanam. Tokyo Cement has received tax breaks on the investment that will be financed by internal funds and bank loans. The company anticipates a 10% year-on-year growth in cement demand in the medium term.