Decision on Holcim New Zeland plant expected by year-end

Decision on Holcim New Zeland plant expected by year-end
20 January 2010

Holcim (New Zealand) Ltd is still expected to make a decision by the end of this year on whether to build a $400m cement plant in the Waiareka Valley near Weston.

Its capital projects manager, Ken Cowie, expects a report to go to the New Zealand board of directors towards the middle of this year, after which it will decide whether to recommend to its parent board in Switzerland that the project go ahead.

In December, the New Zealand board approved further investigations into the project after it received resource consents from the Environment Court for the cement plant and its associated limestone, tuff, sand and coal quarries in the Waiareka Valley.

Mr Cowie said yesterday the feasibility study included detailed costings, new data and updated feasibility studies.

That report would go to the New Zealand board about the middle of the year.

That board would then decide whether to recommend the project to the parent board, which would make the final decision.

"We are still comfortable we can achieve that by the end of the year," he said.

The final decision would depend on world markets, how the company was performing internationally, other investment opportunities, availability of capital and New Zealand Government policies.
Published under Cement News