Government aims to cut costs ofbuilding projects

15.01.2010 


The government aims to bring down building costs through the new tax reforms so the public will benefit, Finance Minister Danny Faure said yesterday.

He was speaking after a tour of the Lafarge Cement Company Seychelles at the New Port, Victoria, accompanied by his technical adviser Steve Jardine and director general for strategic planning Rupert Simeon.

 

Minister Faure and his delegation touring the Lafarge Cement Company Seychelles

Mr Faure said his visit was important as President James Michel had asked him to address the issue of construction costs this year.

“We want to pass on the benefits of the reforms in the economy and changes in tax policies to the people,” he said.
He said he had wanted to see what the company was doing and was very impressed with the work which he described as “very solid and of capital importance for the construction sector”.

Apart from visiting the weighbridge site, the bagging plant and the main packing machinery, Mr Faure discussed the tax reform with the company’s general manager, Farouk Jean-Baptiste, and explained how they will benefit from it.

He said the company will not have to pay any goods and services tax (GST) on materials used in the business, which in turn will help to reduce the cost of cement.

Mr Faure added that for some time now the company has not been able to invest in new equipment, but with the reforms it will be able to do so.

“The company will this year be able to invest R5 million in new equipment, and they are seriously looking at the possibility of bringing down their prices of cement soon,” he said.

He added that the new Budget allows for an increase in capital investment, which means the government is going to invest R240 million in building houses and will rely on this company for materials.

Talking about Lafarge’s operations, Mr Jean-Baptiste said they ship in their raw materials from Malaysia and Indonesia.

Their daily production of cement depends on demand, but for now it stands at a maximum 200 tonnes in bags and over 100 tonnes in bulk.

He added that trucks from the Civil Construction Company Ltd and United Concrete Products Seychelles Ltd take on average about 60 tonnes of cement in bulk per day.

Mr Jean-Baptiste said demand for the product has stabilised as there are many construction projects now underway.
Speaking about the impact of the economic reforms on the company, he said it has been positive as previously cement cost R200 a bag and a year later it is only R98.

The company was formed in 1971 when it was known as the Cement Company Seychelles Ltd. In 2004 it integrated with Lafarge, the largest cement producer in the world.

The company has seven workers in operations and two in management – all Seychellois.

 

Forrás: http://www.nation.sc/index.php?art=18257

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