NEW PLANT: Holcim (Lanka) Ltd, the local player of the Holcim Group will continue to invest more in the Sri Lankan cement industry.
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Chairman Holcim (Lanka) Ltd, V. Manilal Fernando, announcing the launch of their sustainability report and annual review said, they will continue to invest in Sri Lanka. At the moment they are ready with an investment to set up a grinding plant in Trincomalee near the Trincomalee harbour.
The new grinding plant will reduce our overland transportation as it is situated near the harbour, he said.
The Government expects to have a new harbour in Hambantota. When the government develops more harbours in Sri Lanka Holcim will set up more grinding plants where harbours are situated and keep on expanding, he said.
Holcim intends to invest nearly USD 10 million for the grinding station and clinker terminal in Trincomalee, which would create around 100 direct employment opportunities and nearly 500 indirect employment in Eastern Province. Since 1996 Holcim Lanka has invested an estimated USD 110 million in Sri Lanka.
Managing Director/CEO of Holcim Lanka Peter Spirig said Holcim Lanka saw its sales portfolio grow by 10% in 2006 compared to 2005. During the same period, net revenue grew by 25% and is showcased at Rs. 10.4 billion on account of better price realisations, despite the Government imposed price control on cement in November 2006.
These price control measures hampered the recovery of increasing costs, especially due to an increase in electricity tariff by approximately 30%. Operating profit increased by 33% and net income grew by 55% net of unusual expenses.
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