Fri, 30 July 2010  15:53:45
Cement Sign
22 Feb, 2009 14:43:02
Sri Lanka cement firm mulls floating plant
Feb 22, 2009 (LBO) – Lanka Cement is considering going for a floating cement factory in a venture with Italian cement transporting firm Seabulk International Bulk Handling Services.
The Italian firm has submitted a proposal to set up a cement bagging and transporting plant on a ship, Lanka Cement chairman Sisira Paranagama was quoted as saying by the Sunday Times FT newspaper.

Seabulk officials had held talks with Lanka Cement last Wednesday, he said.

The Italian firm's team also visited both Colombo and Galle harbours to see how the barging facility can be arranged, the paper said.

Seabulk has suggested deploying a 10,000 metric tonne capacity ship for the project.

Paranagama said a floating plant was easier to operate and saves space.

Seabulk will be investing about 40 - 50 million dollars in the operation, he added.

State-owned Lanka Cement, which is also listed on the Colombo bourse, now imports about 10,000 metric tonnes of cement a month.

A floating plant could save costs, Paranagama said.

He also said that because of security concerns the firm has put on hold proposals by foreign firms to revive a defunct Lanka Cement plant in northern Jaffna.

India's Ramco, Birla Group and Shanghi Cement along with Cement Italia had expressed interest in a joint venture to revive the plant.

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