Cement Corp to venture into new businesses

*Rs 5 b multi-purpose high rise

*Cement packaging plant in Magampura

Indunil HEWAGE

Sri Lanka Cement Corporation (SLCC) has sought Port Authority approval to set up a cement packaging plant in the Ruhunu Magampura Port to provide sufficient cement for development activities in the country by reducing the prevailing congestion at the Colombo port .

Sri Lanka Cement Corporation Chairman Sisira Jinendra Paranagama said that SLCC has cleared a land in Kollupitiya to build a 25-storeyed building in Kollupitiya with Rs 5 billion and is expected to start construction work shortly.

The building will consist of a 5,000 seat capacity banquet hall, rotating restaurant, three underground car parks, leading food chains, luxury apartments.

The remaining space of the building is to be rented for banks, private and government organizations.

The KKS cement factory in Kankesanthurai that comes under the governance of SLCC and Lanka Cement Ltd (LCL) is in the process of manufacturing pavement blocks, cement blocks, telecom and electricity posts to cater to the development drive in the Northern province and SLCC and LCL will invest Rs 10 million in the coming months to increase the capacity of the factory.

The factory provides employment opportunities for 100 youth in Jaffna and SLCC is hopeful of increasing the present employee base upto 200 by next year.

Selected students in schools in Jaffna will be provided training to manufacture cement based products under the guidance of SLCC and will find the market for their products.