Sri Lanka: Tokyo Cement Company (Lanka) plans to invest US$50m on 1Mt/yr of additional production capacity to meet local demand.
The extra capacity will be via a new plant under a new subsidiary, Tokyo Eastern Cement. The project is expected to be implemented in the next two years. It will receive a five-year tax holiday and a tax rate of 12%. The project will be funded through internal funds and loans.
In its 2014 financial year, Tokyo Cement's revenue grew by 6% year-on-year, while its operating profit rose by 65%. Its current market share in Sri Lanka is 35%.
