Tokyo Cement Company (Lanka) PLC entered into an agreement with the BOI recently to increase cement production.
The company plans to increase local production capacity by one million metric tons with an investment of US $ 12 million.
With the introduction of restrictions on unnecessary imports, the economy has been able to curtail the outflow of valuable foreign exchange, enabling local manufacturers in almost every sector to pursue their long-term growth plans with greater confidence. Tokyo Cement’s decision to boost production, directly reflects this positive outlook, encouraged by the Government’s pragmatic policy stance. The investment will significantly enhance local value creation; with the addition of more direct and indirect employment opportunities, compounded by the thousands of ancillary product and service suppliers supported through local cement manufacturing, setting off a ripple effect of economic benefits as envisaged by the Government, a company spokesman said. The expansion will push up the installed capacity at the Tokyo Cement Factory in Trincomalee, reinstating the Company’s readiness to cater to the future growth in demand of the local construction industry.
With an 18-month expansion plan Tokyo Cement will increase the production of various brands of ordinary Portland and blended hydraulic cements, using state-of-the-art advanced technology.