Vassiliko Cement Works Pcl  has signed a letter of intent with CBMI Constructions Co Ltd of China for the construction of a new modern clinker production unit of 2Mta capacity. The new clinker production line has an estimated cost of EUR83.8m and is expected to be completed by end of 2010.
 
The total cost of investment, which in addition to the above includes the investment for the new cement mill is expected to reach EUR135m and will be financed by VCW’s own funds and partly by debt.
 
The new production line will extend the life of VCW’s production plant for the next 50 years, whilst the total annual cement production will increase from 1.8Mt to 2.4Mta.
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