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Sri Lanka Equity Forum » Stock Market News » Sri Lankan government to re-open Kankasanthurei cement factory

Sri Lankan government to re-open Kankasanthurei cement factory

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
May 16, Colombo: The Sri Lankan government is to re-open the cement factory in Kankasanthurei in the Northern Province.

State Resources and Enterprise Development Minister Dayasritha Tissera has said the production process of the Kankasanthurei cement factory is to commence soon.

The Minister has noted that the government has allocated Rs. 5 billion for the first phase of the establishment of machinery that could help produce and pack between 250-500 metric tons of cement on a daily basis.

He has observed that the debt of the country's Cement Corporation that stood at around Rs. 234 million has been covered and that a profit of around Rs. 7 to 8 million was now been recorded annually.

According to Tissera, the country currently imports around 10,000 metric tons of cement on a monthly basis and the government wants to increase the production capacity of the local cement factories.

The Kankasanthurei cement factory ceased operations in 1990 when the war between the security forces and the Tamil Tiger terrorists intensified.

Re-opening of the factory is expected to create a large number of employment opportunities for the people in Sri Lanka's war-torn North.
http://www.colombopage.com/archive_12/May16_1337141969JR.php

Mubin Mustafa


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
WOWWW history repeat again..

Mubin Mustafa


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
this news was 2012

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Mubin Mustafa wrote:WOWWW history repeat again..

... and share price too

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