Baucau, Timor Leste’s (East Timor’s) second city is the location chosen for construction of a cement factory because of large limestone deposits in the region, the Timorese government said.
The factory, which will have initial production of 1.5 million tons per year (30 percent for domestic consumption and 70 percent for export to northern Australia) will require investment of US$500 million from Australian companies BGC and Swan Energy, both based in Perth.
Construction of the factory is scheduled to begin in January 2015 and the limestone deposits in the Baucau region are expected to guarantee production for 100 years.
The ceremony to lay the first stone took place last week and was attended by the Minister for Oil and Mining Resources, Alfredo Pires. (macauhub)