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Thatta Cement Company (Pvt) Ltd, Pakistan will construct a Cement Grinding and Bagging Plant at Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP). Muhammad Fazlullah Shariff - CEO and Vice Chairman of Thatta Cement Company Limited, Karachi Pakistan speaking to Daily News Business from MRMRP said that this is the first time that the company commences operations outside Pakistan.
He said that while the global demand for cement is around 3% annually the Sri Lankan demand is around 4%.
However we have noted that the demand for Cement in the Hambantota area is around 8% and this was the main reason for them to set up operations in Hambantota, he said. He also said that when even an international airport and a harbour is set up in one year a similar demand is witnessed.
The proposed plant will employ a closed circuit cement grinding mill, cement and packing plant for cement manufacture and dispatch.
The total investment is concluded as US $ 15.15 million to be incurred during the first five years of operation.
At the commencement minimum guaranteed production volume of the plant will be 100,000 Mt/ year and it will be increased gradually up to 1,000,000 Mt/ year at the end of first decade.
Thatta Cement Company (Pvt) Ltd is the local subsidiary company of Thatta Cement Company Limited in Pakistan.
He said that the project would commence mid this year and operations are expected to commence next year. The project would generate 50 direct employment opportunities.
This Business Venture Agreement with the Sri Lanka Ports Authority would be for a period of 25 years.
Land allocation for this business venture will be four hectares and that will generate minimum revenue of US $ 9.9 million over the 25 years, via a land lease agreement.
In addition to that by royalty payment Sri Lanka Ports Authority (SLPA) will earn US $ 65.5 million over 25 years. SLPA will achieve more benefits via this project as it generates number of vessel movement at the port. Since Thatta Cement is willing to employ more than 150 Sri Lankans, the project is worth to our country from that angle too.
In addition to this venture, Hayles Advantis Ltd (Fertilizer Bagging Plant), McLarnes Holdings Ltd (Warehousing), Agalawatta Plantation PLC (Warehousing) and ACE Distripaks (Pvt) Ltd (Warehousing) have expressed interest to commence business at MRMR Port zone.
Thatta Cement Pakistan to set up Cement Plant in Hambantota
He said that while the global demand for cement is around 3% annually the Sri Lankan demand is around 4%.
However we have noted that the demand for Cement in the Hambantota area is around 8% and this was the main reason for them to set up operations in Hambantota, he said. He also said that when even an international airport and a harbour is set up in one year a similar demand is witnessed.
The proposed plant will employ a closed circuit cement grinding mill, cement and packing plant for cement manufacture and dispatch.
The total investment is concluded as US $ 15.15 million to be incurred during the first five years of operation.
At the commencement minimum guaranteed production volume of the plant will be 100,000 Mt/ year and it will be increased gradually up to 1,000,000 Mt/ year at the end of first decade.
Thatta Cement Company (Pvt) Ltd is the local subsidiary company of Thatta Cement Company Limited in Pakistan.
He said that the project would commence mid this year and operations are expected to commence next year. The project would generate 50 direct employment opportunities.
This Business Venture Agreement with the Sri Lanka Ports Authority would be for a period of 25 years.
Land allocation for this business venture will be four hectares and that will generate minimum revenue of US $ 9.9 million over the 25 years, via a land lease agreement.
In addition to that by royalty payment Sri Lanka Ports Authority (SLPA) will earn US $ 65.5 million over 25 years. SLPA will achieve more benefits via this project as it generates number of vessel movement at the port. Since Thatta Cement is willing to employ more than 150 Sri Lankans, the project is worth to our country from that angle too.
In addition to this venture, Hayles Advantis Ltd (Fertilizer Bagging Plant), McLarnes Holdings Ltd (Warehousing), Agalawatta Plantation PLC (Warehousing) and ACE Distripaks (Pvt) Ltd (Warehousing) have expressed interest to commence business at MRMR Port zone.
Thatta Cement Pakistan to set up Cement Plant in Hambantota
