Jan 2006 Financial News

TCL in cement deal with Antigua

Jan 12, 2006

Trinidad Cement Limited (TCL) has agreed to supply Antigua with cement for the construction of the Sir Vivian Richards Stadium project.

The availability of cement to supply the construction industry, especially the Sir Vivian Richards Stadium, has been the subject of attention over the past few weeks by the Baldwin Spencer Administration.

In subsequent meetings with TCL, a wide range of issues was discussed, among them the direct supply of cement to the Sir Vivian Richards Stadium project. In addition, the ability of TCL to meet existing and future demands for cement were discussed.

As a result of the meetings in Trinidad, it was agreed that TCL will immediately provide direct shipments of cement individually to the Sir Vivian Richards Stadium project, Midlands Building and Supplies and Antigua Masonry Products and will provide on average 4,000 tonnes each month to the Antigua and Barbuda market.

In addition, the company will explore the possibility of establishing a security stock pile of 1000 tonnes of cement for the stadium project and will ensure that Antigua and Barbuda is provided with regular supplies of cement per month.

There is also an undertaking to continue working with the government to ensure that cement is retailed at EC$16.50 per bag.

Newsday
Business Day
Thursday, 12th January, 2006
http://www.newsday.co.tt/business.php?p=2