Adbri (ASX:ABC) receives green light for Kwinana Upgrade Project
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Adbri (ASX:ABC) have today given the ‘go ahead’ for the Kwinana Upgrade Project following a final investment decision by the Board.
The $199 million investment in a modern state-of-the-art facility will consolidate Adbri’s two existing cement production sites into a single operation serving the Western Australia market increasing annual production capacity to 1.5 million tonnes per annum from 1.1 million tonnes.
Adbri’s Cockburn Cement business remains a key contributor to WA’s economy.
This project will reduce carbon emissions of the cement grinding process through lower electricity and diesel usage and provide 130 construction jobs for the two-year build period.
Shares in Adbri (ASX:ABC) are trading 3.8 per cent higher at $3.55.
Copyright 2020 – Finance News Network
Source: Finance News Network
