Apr 2007 Financial News

TCL can meet Guyana cement demands

Apr 25, 2007

Guyana’s Minister of Tourism, Industry and Commerce, Manniram Prashad, has indicated that TCL Guyana’s (TGI) state-of-the-art cement bagging terminal can adequately supply all the cement needed by the Guyana market; and therefore, the waiver of the CET can now be reverted.

The CET was waived to allow the importation of extra-regional cement to meet a shortfall in supply. After touring the TCL bagging facility last Wednesday, Prashad expressed satisfaction at the level of production at the cement terminal.

He said that with 1400 bags of cement being produced per hour, the plant can meet the substantial and growing cement demand in Guyana.

TCL Guyana Inc. is a cement bagging facility, which allows for bulk cement manufactured within the TCL Group to be shipped in specialised bulk carriers to the terminal where it is packaged for distribution throughout Guyana. This terminal receives bulk cement shipped directly from the TCL Group’s plants in Trinidad and Barbados.

Speaking with TGI Plant Manager, Mark Bender, Prashad noted that this is a very modern plant and for TCL to invest US$10 million in the facility means it must have confidence in the economy and in the Government of the day. He added, I know that with this kind of investment, cement will not be short in Guyana. I know we had problems recently, but we are looking forward to the plant providing all the cement we need in Guyana.

Prashad also praised TGI for its environmentally friendly operations. He said that it is commendable that there aren’t any cement emissions during the bagging process. Plant Manager Bender affirmed, TCL is committed to ensuring that its cement terminal and packing plant is not harmful to the environment, and it will continue to work closely with the environmental protection agency to make certain the operation remains safe.

For the TCL Group, the terminal represents a significant investment of over US$10 million a further testimony of the group’s fervent efforts in pursuing its strategic objectives; continued integration within the region, production capacity expansion and full support of the overall development plans of Guyana and the Caribbean.

Source:
The Barbados Advocate
Wednesday April 25, 2007
http://www.barbadosadvocate.com/NewViewNewsleft.cfm?Record=30842