Financial Times

$30 mln investment by Holcim to raise output
Holcim, the top cement manufacturer, has launched a major expansion of its production facilities costing $30 million (Rs 3 billion), raising production capacity to 1.4 million tonnes annually by mid-2005 from an annual one million now.

Peter Spirig, Managing Director and CEO, said they were increasing output at the Puttalam and Galle plants.

In addition to this, the new investment in the company also envisages upgrading its environmental performance and training and development of staff. The process is expected to be complete by mid-2005.

The company's new investment plans would be announced at a media conference on Tuesday in which Industries, Tourism and Investment Promotion Minister Anura Bandaranaike, BOI chairman Saliya Wickremasuriya and the ambassadors of Switzerland and Germany would be present.

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