CEMEX to supply cement for Panama Canal expansion

The supply contract calls for approximately 500 thousand tons of cement.

Wednesday, July 14, 2010

CEMEX, S.A.B. de C.V. (NYSE: CX) announced the signing of a supply contract with “Consorcio Grupo Unidos por el Canal”, the primary contractor for the construction of the third set of locks of the Panama Canal expansion project.

The CEMEX contract represents an integral phase of the Canal expansion project, which includes two locks, the excavation of access channels to the new locks and the widening and deepening of navigational channels.

“We are proud to have been selected to be part of the Canal expansion project, which has real promise to be a catalyst for development for the Country of Panama”, said Jesus Gonzalez, president of CEMEX Central America. “As part of the contract, CEMEX will provide specially designed products for the engineering requirements of the work and ensure supply, a result of investing in expanding our production capacity since 2008. We at CEMEX look forward to being part of Panama’s growth.”

Over the past two years, CEMEX has invested approximately $300 million in its Panamanian operations, including its plant where it has tripled its cement production capacity. With this expansion, CEMEX will successfully satisfy the needs of building materials of the Panama Canal expansion project and the requirements of the projects that are part of Panamanian Government's investment plan.

CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.



More on this topic

More Cemex Investments Near Grand Canal

December 2014

The cement company has announced it will be investing $35 million over three years to increase the production capacity by 25% at the plant it operates in Costa Rica, near the border with Nicaragua.

From a statement issued by CEMEX:

MONTERREY, MEXICO - CEMEX, SAB de CV ("CEMEX") (BMV: CEMEXCPO) announced today that its subsidiary CEMEX Latam Holdings, SA ("CLH") (BVC: CLH) initiated a project to increase cement production capacity of its plant in Colorado, Costa Rica, by approximately 25% in order to reach an annual capacity of 1.1 million tonnes in 2017.

Canal Expansion: The Story of the Contract

January 2014

Former members of the Board of Directors of the Panama Canal Authority detail the recruitment process used to select GUPC consortium for the construction of the third set of locks.

FROM A PRESS RELEASE

In our capacity as former members of the Board of Directors of the Panama Canal Authority (ACP) of which we formed a part of when the decision to undertake the project to expand the canal was taken and approval was given to, among other things, the budget for the works, the terms and conditions of the contract, the conceptual details of the project, the type of contract (design and construction) and the requirements to be met by companies interested in participating in the bidding process, we feel compelled to established our position with regard to the conflict that has arisen between the ACP and the consortium that was awarded the contract for the construction of the third set of locks (hereinafter GUPC Consortium).

Argos to Supply $65 million of Cement for Panama Canal

July 2010

The Colombian company Argos Cement has signed a contract to provide cement and other products to support the canal expansion.

According to information provided by Argos, the cement will be produced at the company’s Panama site, complemented as necessary by additional volume from the plant Argos has in Cartagena, Colombia.

Panamanian Cement Companies Confident on Coping With Demand

May 2010

“Cemento Panamá” and “Cemex Panamá”, assured they are capable of coping with the surge in demand caused by the upcoming expansion of the Panama Canal, without importing cement.

Together they are capable of producing 3 million tons a year: Cemex 1.4 million and Cemento Panamá 1.6 million.

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