Bangkok--2 May--Master Mind Communications
L.V. Technology Public Company Limited (LVT), a listed company specializing in engineering consultancy services with ongoing operations in various parts of the world, has been awarded a US$ 9 million (about 270 million baht) contract to upgrade an existing cement plant and set up a new back-up cement grinding facility in Bahrain.
The contract — awarded by Falcon Cement Company (FCC), the first and only fully-integrated cement producer in Bahrain — was signed by LVT founder and president Hans Jorgen Nielsen and FCC executive director Salah Sharif in a recent ceremony held at the FCC headquarters in Manama in the Kingdom of Bahrain.
In an official filing with the Stock Exchange of Thailand (SET) today (May 2, 2013), LVT stated that the scope of the project would include the supply of engineering services and equipment for upgrading (existing facilities) and the setting up of a new cement grinding plant (70-ton-per-hour capacity). The implementation period has been set for 16 months.
The contract represents a major step forward for FCC whose chairman Hisham Al Rayes stated: “Leveraging LVT’s vast experience and services, FCC will increase the size of its operations and its ability to deliver more consistent supplies of cement to the domestic market with improved quality.”
Mr. Al Rayes added: “We expect to improve the overall operational efficiency of the plant making us more competitive and ensuring that we continue to effectively meet the needs of our customers and the growing demand for high-quality, locally-produced cement.”
For LVT, the latest contract has raised the total value of its backlog to more than 3 billion baht. Prior to the FCC deal, the company had concluded three other important jobs — including the upgrading and extension works for two cement plants owned and operated by the Max Manufacturing Group in Myanmar plus the provision of engineering services and supply of equipment and machinery for a new pozzolan kiln plant in Brazil.
According to Mr. Nielsen, the ongoing works in Myanmar are of particular significance since they constitute the groundworks for planned joint-venture investments with the Max Manufacturing Group in the booming cement industry there. The joint venture with Max, which is expected to be finalized in the near future, would correspond with LVT’s latest corporate strategy to create assets that can generate recurrent income and profits into the long-term future.
Picture shows LVT founder and president Hans Jorgen Nielsen (extreme right) with senior executives of FCC at the contract signing ceremony in the presence of Bahrain Industry and Commerce Minister Dr. Hassan Fakhro (fourth from right).