The plant for subsidiary Cemex Latam will increase cement production capacity by close to a million tons per year.
The first phase of the project includes the construction of a new grinding mill that is expected to start cement production during the second quarter of 2015. The rest of the plant will be completed during the second half of 2016.
This plant’s location is in the Antioquia region, which has enjoyed high levels of economic growth and is expected to benefit from the construction of infrastructure projects under Colombia’s highway concession.
“We are encouraged by the positive outlook and business environment of this dynamic market.” said Cemex chief executive officer Fernando Gonzalez.
The project is expected to generate approximately 1,000 direct jobs during the construction phase and about 300 jobs once the operations begin.
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