The Board of the Inter-American Development Bank (IADB) has approved a US$50m loan that will help to finance the construction and operation of the new Iguazu cement plant in Villa Hayes, Paraguay.
The new works will have an initial production of around 0.4Mta of cement and is expected to replace a considerable part of cement imports. Currently, Paraguay imports around a third of its 0.9Mt cement demand.
Total cost of the plant is US$150m and the project is also co-financed by Corporación Andina de Fomento.
Cementos Iguazú SA is a joint venture of Brazil’s Votorantim Cimentos Ltda, InterCement Brasil SA and Concret Mix SA.