CEMEX, S.A.B. de C.V. (CEMEX) announced that its subsidiary, CEMEX Latam Holdings, S.A., will begin the construction of a cement plant in Colombia. The total investment is expected to reach approximately $340 million and to increase CLH’s cement production capacity in Colombia from 4.5 million to close to 5.5 million tpy.
The first phase of this 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 plant will operate using modern and efficient technology to comply with high quality and environmental standards.
This 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 program 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, 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.
