Cemex announced that its subsidiary Cemex Latam Holdings (CLH) has completed the construction of the first phase of a new cement grinding plant in Ciudad Sandino, Managua, Nicaragua.
CLH invested approximately $30 million for infrastructure procurement and the installation of the first cement grinding mill, with an annual production capacity of approximately 220,000 metric tons. The inauguration ceremony took place Aug. 27 at the new facility and was attended by the President of Nicaragua Daniel Ortega, and Cemex Chief Executive Officer Fernando A. Gonzalez.
The second phase, which is expected to be completed by the end of 2017, will include the installation of a second cement grinding mill with an additional annual production capacity of approximately 220,000 metric tons and an additional investment of approximately $25 million. Upon completion of the second phase, Cemex Nicaragua is expected to reach an estimated total annual cement production capacity of approximately 860,000 metric tons.
“The positive business outlook in Nicaragua strengthens our commitment to be a reliable supplier given the growing need for high quality building materials required for public infrastructure, commercial projects and housing in the country,” said Gonzalez.