27 08 2007 Tirana_Albania’s booming construction industry is eyeing its third major investment in cement production, Prime Minister Sali Berisha announced Monday.
According to the statement, Spain-based Cementos Aguilla, a subsidiary of the Aricam Group, will start the development of a new 183 million euros cement plant in the town of Fushe Kruja in 2008.
The company’s plans are for 50 percent of the production to target the Albanian market and the rest to be eventually exported.
Berisha said that the Albanian government had given the green light to the project. "This another major investments in the cement industry, while we have other companies interested to enter the market," he told media in the capital, Tirana.
Albania’s construction industry has been one of the propellers of the economy in the last few years, accounting for up to 13 percent of Albania’s GDP.
Cement has been a commodity in great demand in the market. Around 1.3 million tons of cement were imported to Albania in 2006.
According to experts in the Ministry of the Economy, Albania has excellent raw materials for cement production, an improved business climate, and the commencement of a free trade agreement with the European Union that is attracting more and more investors.
In 2006, Lebanon’s Seament launched a major cement operation in Albania. Athea Cement a subsidiary of the Titan Group has also launched construction of another plant. (Birn)
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