| …will offer discount to builders that qualifyThe Trinidad Cement Limited (TCL) Group yesterday announced its support of the Government’s new policy to increase the tax-free limit for revenue generated on housing loans.The company is illustrating its support in a tangible way, in that it would be offering a special discount on cement for first-time home builders who qualify for funding under the initiative.Head of State Bharrat Jagdeo recently announced that, in addition to the increase in the tax-free lending by commercial banks, a $2B revolving fund will be established to assist retirees,Wholesale Jerseys From China, single parents and other vulnerable groups with the construction of their homes. “The TCL Group,Cheap Jerseys From China, through TCL Guyana Inc (TGI) will provide persons who qualify with an attractive discount on all cement purchases for their home construction…This special offer will be extended initially to persons, in both groups, who qualify in the first quarter of 2010.”The cement company also pledged support for other construction initiatives announced by President Jagdeo last week, by ensuring that adequate supplies of cement are available.“These include the $6B for infrastructural works and the development of 20,Cheap NFL Jerseys,000 new house lots…These initiatives present yet another opportunity for TGI to demonstrate its ability to meet the demand for cement in Guyana.”According to the company, after almost three years of operating a bagging plant in Guyana, it is even now more confident of its ability to fully satisfy Guyana’s cement market.“The TGI bagging terminal in Georgetown, could currently supply 20,Cheap NFL Jerseys Online,000 metric tonnes (MT) of cement per month to a market that is not expected to consume more than 12,000 MT per month at this time.In 2008, Guyana consumed 134,000 MT (on average 11,166 MT/month) of cement,Undefeated Air Max 97 For Sale, falling 15% to a projected 115,000 MT (9583 MT/month) in 2009.Nevertheless, the Group stated that it anticipates that with the announced initiatives,Wholesale Jerseys China, the demand will return and even surpass the levels of 2008.The TCL Group, with its cement manufacturing facilities in Trinidad, Jamaica and Barbados can supply 100 per cent of the cement demand in the CARICOM Market. Trinidad Cement and Arawak Cement have an annual production capacity of 1.2 million and 360,000 tonnes of cement respectively, while the recently concluded expansion and modernization of Carib Cement’s facilities in Jamaica now enable that plant to produce approximately 1,476,000 tonnes per annum.Consequently, the Group has a combined cement production capacity in excess of 3 million tonnes annually across its three plants. This is against an estimated current demand of 2.2 million tonnes for the CARICOM market. |
