Bulgaria’s Devnya Cement delays upgrade

Bulgaria’s Devnya Cement delays upgrade
13 March 2009

Bulgaria’s Devnya Cement, part of Italcementi Group, will delay a 500 million lev (US$326.2m) investment in capacity expansion due to falling demand for exports resulting from the global crisis, Sofia-based Dnevnik daily reported.

The project, which was due to be completed by 2010, will be put on hold for 10 to 14 months, Dnevnik quoted the Devnya Cement HR manager Valentina Grozdanova as saying.

The upgrade envisages building a new production unit and reconstruction and modernisation of the existing clinker and cement production units. The upgrade will increase the combined capacity fro production of clinker and cement to 3Mt from the current 2.5Mt, and will cut fuel costs.
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