Lafarge Holcim to expand Argentine plant
Franco-Swiss construction materials giant Lafarge Holcim announced that it will invest US$120mn to expand its cement plant in Argentina's Córdoba province, making it the second cement maker to announce an expansion in the country in less than a week, after Loma Negra.
The statement was made during a meeting between Argentine President Mauricio Macri, the CEO of Lafarge Holcim's Argentine branch, Carlos Espina, chairman of the executive board Ubaldo Aguirre, and corporate affairs manager María Belén Daghero, in addition to other local authorities, according to a release from the presidency.
Before the meeting, Espina said that the expansion works at the Malagueño plant will entail a new kiln and milling section and the reconfiguration of the entire shipping and dispatch area, reported local daily La Nación.
These works would add 730,000t to the company's annual output in Argentina, which is currently 4.8Mt .
Besides this expansion, Espina added that the company has been making smaller investments in Argentina of around 100-200mn pesos (US$6-12mn) per year, which has allowed it to increase production capacity by 200,000t over the last three years.
The executive stated that there is a positive outlook for the domestic construction sector and because of that Lafarge Holcim chose to invest in the Córdoba plant, which will be the group's largest Latin American investment this year. The works are expected to begin next year.
Last week, Loma Negra announced that it intends to invest US$350mn to install a new production line at its cement plant in Olavarría in Buenos Aires province.
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