Industria Nacional de Cemento receives funding from Paraguayan government

Local news sites have reported that Industria Nacional de Cemento (INC) will receive approximately US$67 million in funding from Paraguay’s government. This forms part of a sovereign bonds package worth some US$750 million, which has been granted to various institutions, including the energy, housing and agriculture sectors. INC will use the investment to modernise its Vallemí and Villeta plants, such as acquiring new quarry equipment and adapting the type of fuels that can be burnt. The projects will enable INC to reduce costs by around US$30 million pa, and help to lower the price of cement, and therefore construction projects, in the country.

In other news, plans are reportedly underway to construct a new cement plant in San Lázaro, helping to generate jobs in the region.

Edited from various sources by Louise Fordham

Read the article online at: https://www.worldcement.com/the-americas/11062014/inc_to_invest_funds_from_paraguayan_government_in_modernisation_projects_335/