Dominican Republic’s Cement Producers Association (ADOCEM) anticipates a 15 percent market growth by year-end while urging initiatives to promote the mortgage market, which in its view will spur the sector’s further development, reports Dominican Today. The country is currently witnessing a rise in local cement demand that is 25 percent higher than the same period a year ago.
Adocem President Carlos González revealed the figures during the presentation of the organization’s annual report and acknowledged that the results were due to government initiatives focused on building 10,000 new classrooms per year, and investment in infrastructure across the country.
González, who is also president of Cemex Dominicana, said the investment of the companies in the sector tops $1.2 billion, “not counting the additional amounts invested annually to maintain the levels of production and efficiency optimal conditions.”
According to diariolibre.com, González added that the investment catapulted the Dominican Republic from a net cement importer to self-sufficiency and exporter of 30 percent of its production.