Tokyo Cement Company (Lanka) to incorporate Rs. 220 million subsidiary

June, 18, 2015

Tokyo Cement Company (Lanka) Limited PLC is to incorporate a subsidiary by the name of Tokyo Super Aggregate Limited with the principal objective of operating a plant to produce manufactured sand, aggregates for concrete and such other by products.

Currently, extraction of natural sand is increasingly becoming less of an option due to the lack of natural reserves. New pit location opportunities are fewer, further than the market place and harder to secure. Natural sand extraction has been the backbone of the aggregate industry in the past. This is increasingly becoming lesser.

Tokyo Super Aggregate Limited is expected to produce high quality manufactured sand of a consistent quality and good equi-dimensional Tokyo Super Aggregate Limited shape.

This is a joint venture project with local partner participation by Raddella Engineering and Earth Movers (Pvt) Limited possessing adequate technical know-how for this highly specialized product.The project cost is estimated to be around Rs. 220 million with 51 equity participation by Tokyo Cement Company (Lanka) Limited PLC.