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Tengy Cement to boost economy

The new Tengy Cement factory in Lami is set to provide stiff competition to the local market that could see a drop in the price of cement, and ultimately cut
13 Aug 2014 18:38
Tengy Cement to boost economy
Participants during the MIOT International Cancer Conclave, Continuing Medical Education Programme in the ‘Win Against Cancer’ at the Tanoa International Hotel in Nadi on March 23, 2019. Photo: DEPTFO News

The new Tengy Cement factory in Lami is set to provide stiff competition to the local market that could see a drop in the price of cement, and ultimately cut the costs of building a home.

Chief guest and Prime Minister, Voreqe Bainimarama, said the new cement factory would also address the chronic shortage of cement in Fiji.

“This project is very good news for all the constructions taking place across the country,” the Prime Minister said.

“The construction boom in Fiji has led to an increased demand for cement and other building materials. Unfortunately, the local industry has not been able to keep pace with this demand and at times, they had to turn to expensive imports. We expect this inconsistency to now be a thing of the past.”

Fiji, he said was naturally well placed as the manufacturing hub of the South Pacific and had well educated skilled workforce.

“We have a number of investment incentives that are some of the region’s most attractive, including zero-duty on all manufacturing plant and equipment.”

He highlighted that manufacturing already contributed 15 per cent to Fiji’s GDP, employing 30,000 people or 22 per cent of the workforce.

If, as a nation, all stayed true to the principles of comnsistency, stability and transparency in its settings, he had no doubt that the future had greater things in store for them, not just in manufacturing but across a broad front.

He said it was time to take advantage of Government’s generous investment incentives and create the jobs needed. In Fiji, Tengy Cement Company had embarked on a $952, 540,000 investment that has employed 15 local people.

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