Cement producer Holcim (Lanka) Ltd is not averse to going public provided there are suitable investment opportunities, according to a top official. “We are looking for opportunities to invest in this market. We will consider listing when we find such an opportunity,” Manilal Fernando, Chairman Holcim told Business Times.
His comments came after Holcim joined a list of 32 companies that have expressed interest in rehabilitating the Lanka Cement factory at Kankasanthurai in Jaffna.
Analysts said that if Holcim is successful with this bid, the company may go for a public share issue. One analyst said the performance of the local cement industry was affected by the high cost of raw materials and the decline in the private sector construction activities.
Expected improvement in infrastructure facilities such as power generation, port, airport, roads and highways, and anticipated rehabilitation and reconstruction activities in the Northern and Eastern Provinces, would enhance production in cement and building material industries, he noted. |
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