The Barbados cement market has expanded tremendously during 2006 fuelled by a vigorous construction industry, according to the general manager of the Arawak cement plant Mr. Satnarine Bachew.
Mr. Bachew was speaking yesterday during a seminar on the environment at the company’s St. Lucy offices.
In 2006, the Barbados market consumed more than 200,000t of cement for the very first time.
Between the year’s 2002 and 2006 there was a 53 per cent increase in the demand for cement.
Mr. Bachew revealed that there was a big jump between 2005 and 2006 of 24 per cent.
But the question is: can this strong demand be sustained?
Mr. Bachew says this question is on the lips of the industry players because a lot of investment depends on this, and the fact that the local market pays great dividends for the Arawak plant.
Mr. Bachew noted that expansion of the cement industry augurs well for the economy since the construction sector is a key indicator of how well it is performing.