Peru’s production seen growing over 4.0% in 2010

Peru’s production seen growing over 4.0% in 2010
Published: 19 November 2009

The administrative director for Cementos Lima SA, Jorge Trelles, said that demand for cement is expected to increase sharply as global economic growth recovers.

"We think that for 2010 growth in the sector should be better than 4.0% and as the global economy recovers this growth should take off," he said, adding that Peruvian cement companies have improved capacity and should be able to meet any increased demand.

In the January to October period this year, Peruvian cement companies produced 5,840,411t, a 3.0% increase over the same period a year earlier.

Trelles said that in 2008 sales of cement to small-scale builders posted an increase, while the global economic downturn affected mining projects, leading to a downturn in demand for cement in the provinces.

"However, from July 2009 mining and exports of agricultural products have recovered and the consumption of cement in the provinces is growing again," he said in a statement filed by the company Wednesday with the Peruvian securities regulatory agency.

Cementos Lima is the largest cement producer in Peru.

Trelles added that Cementos Lima is carrying out a plan to increase production of cement by one million metric tons a year.