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Holcim, which currently produces locally some 2.1Mt of cement in its Nobsa plant, is conducting a feasibility study for the new facility. The construction phase is expected to create 1,000 direct and indirect jobs.
"We're evaluating the departments of Bolívar and Antioquia as possible locations, but we've yet to make a decision," country manager, Miguel Ángel Rubalcava was quoted as saying by local press.
The new plant announcement comes as the Colombia government embarks on an ambitious investment program to develop its infrastructure. Among the plan's goals are achieving a fourfold increase in the country's four-lane highways by 2018.
Infrastructure investments in the country are expected to reach US$10bn by 2014, compared to US$3bn currently.