CEMEX, S.A.B. DE C.V. CEMEX, S.A.B. de C.V. ("CEMEX") (NYSE: CX) announced today that its subsidiary CEMEX Latam Holdings, S.A. ("CLH") (BVC: CLH) will start a project to increase cement production capacity in its plant located in Colorado, Costa Rica by approximately 25%, reaching an annual capacity of 1.1 million tons per year by 2017.
The total investment is expected to be approximately US$35 million in a 3 year period and will include the construction of a new grinding mill, as well as several capacity enhancing projects on its clinker production line.
"With this increased capacity we will strengthen our position in Costa Rica, reiterating our commitment to support the development of the country. We are confident that infrastructure projects will continue driving demand for building materials over the medium-term", said Alejandro Ramirez, Director of CLH in Costa Rica.
The Minister of Foreign Trade of Costa Rica, Alexander Mora, said that the CEMEX Costa Rica investment is a sign of the CEMEX group's commitment with the country and also an example of the good performance that foreign companies may experience in Costa Rica.
The CEMEX Costa Rica investment project was presented by company representatives during a bilateral meeting with the President of the Republic of Costa Rica, Luis Guillermo Solís; the Minister of Foreign Trade of Costa Rica, Alexander Mora, and the General Director of CINDE, Jorge Sequeira; during a promotional visit to attract investment, made in Mexico City on December 10.
Additionally, the expansion is expected to generate approximately 90 jobs during the construction phase and about 50 jobs once operations begin.
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.
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