CEMEX, S.A.B. de C.V. confirmed April 8 that the investment company Blue Rock Cement Holdings, S.A., will invest in a cement project in Peru. CEMEX, which agreed to participate as a minority investor in Blue Rock, will assist in the development, building and operation of the plant.
Fernando Gonzalez, CEMEX executive vice president of planning and finance, said, “Our participation in this project will allow us to enhance our footprint in the attractive Peruvian market, and will complement our business portfolio in the region.”
Blue Rock’s project consists of the construction of a new cement plant with an initial production capacity of 1 million metric tons per year. The plant is expected to be completed in early 2013 with a total investment of around US$230 million. The construction industry in Peru has seen sustained annual growth of over 10 percent in the past years, which makes Peru an attractive market.
CEMEX agreed to contribute an investment of up to US$100 million into the share capital of Blue Rock, for a minority stake. This investment falls under permitted terms under CEMEX’s debt financing agreements.
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.
