Argos, together with strategic partner Instituto de Previsión Militar (IPM), announced an investment of $23 million for the next two years with the aim of promoting growth and development in Honduras.
“This investment is a vote of confidence from Argos in Honduras and represents our commitment to the economic reactivation of the country and our firm determination to contribute to the consolidation of prosperous and sustainable communities based on competitive initiatives with vision. We will continue to make an effort to promote the development of Honduran families through the creation of social value at a national level,” said Luis Eduardo Tovar, general director of Argos Honduras.
The funding will be used toward strategic projects such as increasing the installed capacity at Argos’ Piedras Azules plant in Comayagua and expanding a solar farm that currently operates adjacent to the operation. Additionally, a new 1.2-MW solar farm will be installed at its plant in Río Blanquito, Choloma.
Argos also plans to invest in its waste management and co-processing program through the acquisition of new equipment and facilities to prepare and consume waste derived fuel with the goal of achieving up to 12% fossil fuel replacement by 2030.
The producer said the projects will create more than 500 direct jobs that will boost local economies and promote a more prosperous future for Hondurans.