About Us - Press Release - CEMEX announces new CLH grinding plant in Nicaragua
May 5, 2014
- CLH to invest approximately US$55 million
- Total cement production capacity expected to reach 860,000 tons in 2017
CEMEX, S.A.B. de C.V. ("CEMEX") (NYSE: CX) announced today that its subsidiary CEMEX Latam Holdings, S.A. ("CLH") (BVC: CLH) has started the construction of a new cement grinding plant in Ciudad Sandino, Managua, that is expected to increase its cement production capacity in Nicaragua by approximately 104%.
CLH will invest approximately US$55 million for the construction of the grinding mill, which will be completed in two phases, expected to reach an estimated annual cement production capacity of 860,000 tons by 2017.
During the first phase, US$30 million will be invested for infrastructure procurement and the installation of a cement grinding mill with a production capacity of approximately 220,000 tons. This phase is expected to be completed by the end of the second quarter of 2015. The second phase includes the installation of a second cement grinding mill with an annual production capacity of 220,000 tons and an investment of US$25 million, and is expected to be completed by the end of 2017.
"With this increase in production capacity, CLH strengthens its commitment to Nicaragua, creating the conditions to contribute to its development and ensuring the supply of one of the basic materials for housing and infrastructure construction in the country," said Andres Jimenez, CLH Director in Nicaragua. "We contribute to Nicaragua´s development offering innovative building solutions that promote the welfare of its population."
More than 200 direct and indirect jobs are expected to be created during the construction phase, with 100 direct and indirect jobs once operations are started.
Additionally, CLH will implement reforestation in the area and community support plans, starting with the launch of its Self-Employment Productions Centers or Centros Productivos de Auto Empleo (CPAs) program, whereby concrete blocks are produced for home improvement in collaboration with communities and local governments.
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.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.
CEMEX Contact Information