The former Venezuelan branch of Mexican cement giant Cemex, nationalised last year, has posted record production at one of its plants, totaling 240,925t last month, state news agency ABN reported.
Production at Anzoátegui state’s Pertigalete plant was the highest in the last eight years, and was the result of an increase in the company’s operating hours, and the purchase and installation of four compression facilities.
According to the report, improvements and maintenance carried out on the facility’s equipment also contributed to the results.
The improvements came as part of the government’s efforts to recover the plant’s operating and technical capacity after a period of insufficient investment, the report said.
Cemex initially rejected the nationalization of its assets at the time but then agreed to hand them over to the state. Last year, Cemex started arbitration proceedings in the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) against the Venezuelan government.