Confidence Cement plans for expansion, Bangladesh

Confidence Cement plans for expansion, Bangladesh
Published: 26 January 2010

Confidence Cement Ltd is going for massive expansion doubling its current annual production capacity to 500,000t to meet the growing demand.

The company is also going for diversification of businesses in other sectors also.

"Our company is expanding the production facility and the additional output will be added to our mainline by the end of this year," Imran Karim, director of the company told the FE in an interview.

"We hope investors will support our expansion projects as it will definitely raise the company earnings which will ultimately give lucrative returns to the shareholders," Mr Imran said.

According to the latest annual report of Confidence Cement, the company produced a total of 208,434t of cement in the year ended December 31,2008 against 220,029t of 2007. The capacity utilisation in 2008 was 43 per cent against 46 per cent in 2007.