Tehran Cement Co. Managing Director Seyed Mohammad Atabak has said his company will invest 354.5 billion rials (about US$4 million) to raise output. Briefing shareholders, he reiterated the need for a rise in the capital within Article 161 of the Trade Law Amendment.
"Of the figure, 135.8 billion rials will be financed by banking facilities and the remaining 218.7 billion rials will be supplied by turnover," he added, according to IRNA.
The official added the company intends to preserve its market share, increase competitiveness, and develop the plant.
He added the production projects will come on stream through replacing decrepit machinery, improving production process, and promoting machinery's performance.
Atabak vowed to implement investment plans with the aim of setting up new units or buying of other cement companies' shares.
