CEMEX to build new cement plant in Colombia
Colombian cement production capacity set to be boosted by 1 million tonnes per year
CEMEX Latam Holdings SA (CLH) are to begin the construction of a new cement plant in Colombia which will increase the company’s production capacity in the country from 4.5 million tones to almost 5.5 million tonnes per year.
Total investment in the new plant is expected to reach approximately US$340 million.
The first phase of the project includes the construction of a new grinding mill that is expected to start cement production during the second quarter of 2015. The rest of the plant will be completed during the second half of 2016.
The facility will be strategically located in the Antioquia department. This region has enjoyed high levels of economic growth and is expected to further benefit from the construction of infrastructure projects under the highway concession programme in Colombia.
‘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 (pictured), CEMEX’s chief executive officer. ‘We are encouraged by the positive outlook and business environment of this dynamic market.’
The project will be financed with CLH’s free cash flow and it is expected to generate approximately 1,000 direct jobs during the construction phase and about 300 jobs once the operations begin.
