According to reports, Cementos Argos SA has signed a contract to supply US$65 million in cement and other supplies to the Panama Canal expansion project.
Beginning in December and going right through to the first quarter of 2014, the cement will go to the consortium contracted to build a new set of locks in the canal at an estimated cost of US$3.12 billion. Once complete, the capacity of the Panama Canal will be doubled.
Cementos Argos is a major player in Latin America and the US and the largest cement producer (by market share) in Colombia. In the last five years the company has invested some US$100 million in upgrading its operations in Panama, so is well placed to meet demand for the Panama Canal project. In addition, Cementos Argos has a cement plant in Haiti that was not damaged by the earthquake, so is in a good position to aid with reconstruction work in the country, which will fuel cement demand for some time to come.
More information on the Latin American cement industry will be available in the September issue of WORLD CEMENT. In the meantime, subscribers can download the July issue for all the latest contracts news from the region in our annual World Review.
Read the article online at: https://www.worldcement.com/the-americas/08072010/cementos_argos_wins_panama_canal_contract/