Project to save $ 13m forex annually: KKS cement factory to be re-opened by Ranil Wijayapala The State Resources and Enterprise Development Ministry will re-establish the now defunct cement factory in Kankesanthurai with an investment of Rs. 1.5 billion to make it operational within one year from the date of commencing the project, a spokesman for the Ministry told the Sunday Observer. He said that the project proposals to re-establish the factory were presented to State Resources and Enterprise Development Minister Dayasritha Tissera by Sri Lanka Cement Corporation Chairman N.S.M. Samsudeen on Friday. According to the project proposal the investment for the re-establishment of the factory will be sought from the Bank of Ceylon and a copy of the project proposal was also presented to the Bank of Ceylon by the Sri Lanka Cement Corporation Chairman. The project aims at producing a minimum of 12,000, 50 Kg cement bags per day with the commencement of operations. The Sri Lanka Cement Corporation Chairman said that they could cover the project cost if the Corporation is selected as the main cement supplier for the Northern Highway project initiated by the Government. “The project can save US $ 13 million in foreign exchange spent to import cement to the country annually and it will also generate 300 direct employment and 400 indirect employment opportunities for people in Kankesanthurai”, Samsudeen said. He said that a group of experts with over 30 years’ experience in the field will implement the project without depending on foreign experts. Minister Tissera assured that the proposal will be submitted to the Cabinet to be implemented soon.
Posted on: Sun, 28 Jul 2013 15:18:44 +0000
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