Top Nepal group to seal cement deal in Sri Lanka
CG Group Chairman Binod Chaudhary, the Nepalese billionaire, is likely to spend more money focusing on the construction of a cement manufacturing facility in Sri Lanka. Having already invested in the hospitality industry, Mr. Chaudhary has plans to open a cement manufacturing facility in the North East of the country. This is expected to come under the group’s CG Cement unit that would look at exploiting the potential for the increased demand for cement in the country, CG Corp Sri Lanka Chairman Tilak De Zoysa told the Business Times on Wednesday. The biggest focus is on cement production right now, he explained.
He noted that in view of the US$400 million worth of cement imported monthly, the Nepalese group is looking at tapping into the possibility of manufacturing cement within the country. In this regard, plans are being drawn up to work with Danish partners and TATA Consultants to establish this facility in the country, he said CG Cement Industries Pvt. Ltd. based in Nepal is a most advanced state-of-the art fully automated on that uses the latest “Closed Circuit” with Centralised Control Room monitoring technology, the company stated on its official website. The plant in Nepal has been custom designed to make it fully compact and ensures that pollution is reduced to a minimum level and produces the CG Ordinary Portland Cement and the CG Portland Pozzolana Cement, the website stated.