Executive Board of "Holcim" concern to invest 155m EUR in cement factory in Popovac prior to 2013

The Executive Board of Swiss concern "Holcim" approved investing of 155m EUR in Serbia within next five years.

General Manager of "Holcim Serbia", Gustavo Navarro, says that, for the sake of cement production growth in Popovac near Paraćin, 83m EUR of that sum will be invested prior to 2010 in order for daily production of clinkers to be doubled.

The project anticipates increase in annual capacity for production of clinkers to the level of 1.2m tons, as well as series of infrastructural and technological works, such as completion of vertical mill for grinding of the raw material.

Another 72m EUR will be invested in enlargement of production capacities and rehabilitation of the factory prior to year 2016.

CEO of Holcim Serbia expects that the surplus production will not be sold only on the market of Serbia, but also on the markets of Bulgaria and Romania.

Navarro reminded that "Holcim" had finished the five-year mandatory investment program worth more than 90m USD in 2007, which was included in the sales contract signed in 2002.