Cypriot cement maker Vassiliko Cement Works will invest 6.0 mln Cyprus pounds (Euro 10.5m) in the construction of a clinker silo with a 90,000t capacity, the company said on February 1, 2006. The clinker silo construction will start in 2006 and is to be completed in 2007. Via the project, the company expects to lower significantly dust emissions as well as to cut operating costs.
Vassiliko Cement will also invest Euro 2.6m in the setting up of a 5.0 MW power production unit, seeking to reduce energy costs. The unit will begin operation in July 2006. Vassiliko has a similar unit operating since 2003 which helped the company save 600,000 pounds (Euro 1.0m) in 2005.