Fushe Kruje invests US$150m in new line

Fushe Kruje invests US$150m in new line
07 February 2007

Albania’s largest cement producer, Fushe Kruje, is investing $150m  in its second cement production line in western Albania, a senior executive said. 
The company, majority owned by Lebanese cement group Seament, is planning to continue strengthening its position in the cement market in the country, Robert Solomon, general director of the producer’s existing cement line in Fushe Kruje, told SeeNews. 
"The new cement line will be an investment worth $150m and will have an annual output capacity of 1.3Mt," Solomon said in a recent interview. 
Construction work has already begun but he did not forecast the completion date. 
Last October Fushe Kruje opened its first $150m  production line under a build-own-operate concession. It also has an annual capacity of 1.3Mt. 
The line, which cost $130 million to build, was financed jointly by the owner, the European Bank for Reconstruction and Development, the World Bank’s private sector International Finance Corporation arm, Greece’s Alpha Bank and the OPEC Fund for Reconstruction and Development. An additional $20m was invested to make the line operational, Solomon said. 
The facility has high-technology equipment and is a full production line including crusher, a five-stage pre-heater kiln which manufactures the clinker, two cement grinding mills, each with a 100tph capacity, packaging facilities and silos for storage. 
It is expected to drastically reduce Albania’s reliance on imported cement. 
Published under Cement News