Caribbean company Trinidad Cement Limited (TCL) has opened a US$10.3mn cement bagging plant in Guyanese city Charlestown.
With the new plant, "we will be able to eliminate an irregular cement supply with no buffer stock, price volatility, high internal transport costs and the vagaries of shipping," TCL group chair Andy Bhajan said during the ribbon cutting ceremony, adding that the bagging facility was the first of its kind to be established by TCL outside of their manufacturing bases in Trinidad & Tobago, Barbados and Jamaica.
"Our commitment to the region is further demonstrated by the very aggressive capacity expansion program being undertaken in response to buoyant regional demand. This investment here in Guyana is one element of this aggressive program," Bhajan said. TCL has supplied cement for nearly 20 years to Guyana - TCL’s largest export market.
TCL general manager Arun Goyal deemed the plant as "environmentally friendly," as dust emissions are zero and the company is committed to complying with all of Guyana’s relevant legal environmental requirements, as well as pollution prevention and the minimization of any adverse environmental impacts.
The TCL Group is the dominant supplier and only integrated cement producer in the English-speaking Caribbean, consisting of seven operating companies in Trinidad, Barbados, Jamaica and Anguilla. Its 2006 profits stood at TT$152m (US$24.3m), slipping 1.3% from the year before.