Cementos Progreso invests $690 million in Guatemala
Cementos Progreso will invest $690 million in the San Juan Cement Factory, which will produce 2.2 million tones per year when it comes online in 2012.
Monday, December 15, 2008
Jorge Lemcke, general Manager, explained that the project started at the end of 1998 with the search for a place to set up the factory, and in 2005 they bought the San Gabriel Buena Vista farm in San Juan Sacatepequez, where they found raw material reserves to produce cement for the next 50 years.
The company received a report from the Government, stating the lack of arguments for opposing the construction of its new concrete plant in San Juan Sacatepéquez.
The supply contract calls for approximately 500 thousand tons of cement.
Mexico's Cemex will build a new plant for grinding and packing under an agreement with the Compañía Nacional Productora de Cemento.
In the face of a 20% to 30% decrease in the demand for cement and concrete, the multinational closed five of its concrete plants.
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