Nuh Cimento seals export deal with Holcim

According to Nuh Cimento, Nuh Cimento will export US$100-130m cement and clicker annually for five years to Holcim. To this end, Nuh Cimento has started US$135m investment which will raise its clinker capacity to 4.1Mt from 2Mt, and cement capacity to 5.1Mt from the current 2.5Mt. Half of the investment will be financed through internal resources, half of it will be met by foreign loans at an interest rate of LIBOR+0.5 per cent. Nuh Cimento will also make investments for its increased energy requirement, 25MW of the electricity produced in the new power plant (60MW capacity) will be used by Nuh Cimento, and the remaining part will be sold on the market.  Nuh Cimento will make US$15m investment to increase the capacity of its port. The investment should be completed in late 2004.