Argentine Minetti to invest US$150m

Argentine Minetti to invest US$150m
Published: 01 January 2007

Argentine cement-maker Minetti, located in Cordoba, central Argentina, will invest US$150m between 2006 and 2010, the Argentine press reported on December 26, 2006. The investments will be used for enlargement of the company’s plants, to ensure energy supply for production and for environmental upgrade.

A total US$61m of the overall sum will be earmarked for the industrial complex in Cordoba, which includes three production lines - in Malagueno, in Yocsina, and on the outskirts of the tourist city of Carlos Paz. A total US$37m will be invested to restart line No 1 of Malagueno, which suspended operations in the last decade when the much more modern line No 2 was opened. Another US$24m will be invested in the installation of a petcoke mill, which will supply the kilns in Malagueno and in Cordoba.

Minetti operates cement plants in Jujuy, Mendoza and Campana-Zarate, in Cordoba and Rosario. The company’s sales rose to 537 mln Argentine pesos ($174m) in the first nine months of 2006, from 447 mln pesos ($145m) in the same period of 2005.