Cemex Latam Holdings is set to begin construction of a new cement plant in Colombia with a capacity close to 1 million tpa. At an investment of US$340 million – financed by the company’s free cash flow – the plant will increase CLH’s cement production capacity in Colombia to almost 5.5 million tpa. The first phase of the project will be the construction of a new grinding mill, which is scheduled to begin cement production in 2Q15. The remainder of the plant will be completed in 2H16.
The new cement plant will be located in the Antioquia department, a region that has enjoyed high levels of growth and which is set to benefit from new infrastructure projects. Cemex has said that the plant will operated using modern and efficient technology to comply with quality and environmental standards. Some 1000 jobs will be created during the construction phase, and the plant itself will employ about 300 people.
“We are proud to contribute to the development of Colombia and wish to continue to be a long-term partner on its path to a prosperous, sustainable future,” said Fernando A. Gonzalez, CEMEX´s Chief Executive Officer. “We are encouraged by the positive outlook and business environment of this dynamic market.”
Adapted from press release by Katherine Guenioui