Sri Lanka: Tokyo Cement plans expansion project

Sri Lanka: Tokyo Cement plans expansion project
19 March 2015

Sri Lanka-based Tokyo Cement plans to invest US$50m on a capacity expansion of 1Mta to help cater for local demand requirements.

The group has already formed a new subsidiary under the name of Tokyo Eastern Cement for the implementation of the project over the next two financial years. The project will receive a tax holiday of five years, and therefore a tax rate of 12 per cent. The company proposes to finance the project with internal funds and loans.

During FY13-14, the group’s revenue rose by six per cent and operating profit jumped 65 per cent rise. It currently caters for over 35 per cent of domestic demand through its subsidiaries.

Published under Cement News