The Swiss Holderbank, holder of a 63% stake in the Beloizvorski Tsiment cement plant, is to invest USD 20 million in the plant's modernization by 2004. The plant was acquired by the Swiss in 1998. Holderbank is the world's leading producer of cement, concrete and filling agents and has representation offices in over 60 countries. The company spent close to BGN 100 million to clear away the inoperational asbestine cement production facilities and the disused storage facilities, silos and five furnaces. One of the major investments in 2000 will be made in replacing the facilities running on natural gas with ones fuelled by coal and petrol coke. Raw material and cement mills are also to be constructed