Cimpor may invest EUR 60m in Ecuador

Cimpor may invest EUR 60m in Ecuador
Published: 22 October 2008

Portuguese cement producer Cimpor may invest up to EUR60m in Ecuador, the group’s investment director Antonio Vega admitted this possibility as Portugal’s economic daily Diario Economico wrote in its Tuesday edition.

Cimpor is interested in partnering with the state of Ecuador in the conception and construction of a third cement production plant in eastern Misahualli, Vega added.

At the end of the previous week, the director of Cimpor’s investment arm Cimpor Inversiones met Ecuador’s President Rafael Correa. Vega expressed Cimpor’s interests in becoming a strategic partner of Ecuadorian state-owned cement producers Cemento Chimborazo and Industrias Guapan.

Cimpor is searching for opportunities for further growth in Latin America. In August 2008, the company signed some contracts with the government of Paraguay.