Sri Lanka’s Tokyo Cement group plans to set up more ready mix concrete plants around the island to cater to a construction boom led by transport infrastructure projects.
The firm has completed a ready mix concrete plant in northern Jaffna, which is recovering from the effects of the island’s 30-year ethnic war which ended in 2009.
"The plant, which increased our total number of plants to seven, is already in operation and generating income to buoy our bottom line," the company told shareholders in its annual report for 2010-11.
"We are also in the process of seeking similar strategic locations to replicate the facility, as this will not only help us meet the increasing demand we envisage in future years, but also generate employment in those areas where the plants are located."
Tokyo Cement said it is looking forward to supplying cement to the numerous road, port and airport development projects that are underway and other projects anticipated as the economy recovers after the war.
The company, a joint venture between Nippon Coke & Engineering Company (formerly Mitsui Mining Co.), the largest coal-mining company in Japan, and the local St. Anthony’s Consolidated, is also considering power generation as a separate business.