Argentine cement maker Loma Negra – controlled by Brazil’s Grupo Camargo Correa – will invest US$404m in Argentina between 2012 and 2014, President of Argentina Cristina Fernandez said on Friday.
Reuters reports that Camargo Correa officials met with Fernandez and presented an investment plan that includes a new cement plant. "They told me about investments ... for US$404m with a cement plant that will allow them to produce 900,000t more," Fernandez, who is seeking reelection in October, said in a speech.
The investments, aimed at increasing output, also include a coal stockpile yard, said Ricardo Lima, vice president of operations at Camargo Correa. Loma Negra has nine cement plants and six concrete plants.