Scancem continues investing in Bangladesh

Scancem continues investing in Bangladesh Scancem International continues to invest in Bangladesh and builds a cement grinding facility in the capital of Dhaka. The plant will have an annual capacity of 500,000 metric tons and will be ready in the autumn of 2000. The total investment is around SEK 400 M. Scancem International will be the majority owner of the company that will build and manage the plant. Other investors are financial institutions and local interests. "Asia is an important area for Scancem despite the current economic crisis", says Rune Bjerke, business area manager of Scancem International. "Cement consumption in the country is growing and is expected to reach 4 million metric tons in 1999. In 1998, we started to import cement to Bangladesh, and we will continue doing that until the grinding facility starts operating. This year, imports are expected to reach 250,000 metric tons." In the autumn of 1998, Scancem International acquired a tract of land for the facility just outside Dhaka. Imported clinker will be ground to cement and marketed in Dhaka and its surroundings. The clinker will be unloaded in the port of Chittagong and transferred into smaller ships. The operations will have approximately 150 employees. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/25/19990225BIT00140/bit0001.doc http://www.bit.se/bitonline/1999/02/25/19990225BIT00140/bit0002.pdf