Portugal BPN to invest in grinding plant

Portugal BPN to invest in grinding plant
Published: 29 March 2005

Portuguese investment bank Banco Portuguese de Negocios (BPN), via its holding company Sociedade Lusa de Negocios (SLN), will invest some Euro 25m (US$32.3m) in the construction of a cement grinding plant in the Mitrena shipyard area, situated in Setubal, near Lisbon.  The construction work is expected to begin in the second half of 2005. The unit is projected to be concluded within 18 months.  The new units is planned with an initial production capacity of 750,000t of cement per year.  The operation will be controlled by the Portuguese company CNE - Distribuicao de Cimentos Nacionais e Estrangeiros SA, where BPN has a majority stake.