Vassiliko Cement, Cyprus, has intensified the drive to modernise its operations to cut costs, improve production and to produce up to 40 per cent of its energy needs from locally processed recycled waste.

Executive Chairman Andreas Panayiotou told the Financial Mirror that the prospects of Vassiliko Cement Works (VCW) are excellent, but the drive to modernise and improve never stops as the islands largest cement producer strives to boost productivity and quality, while forcing its costs lower.

After the 15 per cent increase in total cement sales in 2005 to CYP 45.8m, Vassiliko will probably maintain a satisfactory growth rate this year, but thenprospects are set to improve from 2007 onwards as large infrastructure projects, like the airports construction, go into full swing.