Guatemalan cement maker Cementos Progreso said it plans to build a new US$350m cement plant with its Swiss partner Holcim to meet growing demand.
The 2Mta plant will be built close to Guatemala City and add to Cementos Progreso’s current capacity of 3Mt, the company’s director Jorge Lemcke told Reuters.
Construction is scheduled to be complete by the first half of 2009, Lemcke said.
Cementos Progreso will pay for 80 per cent of the new plant and Holcim the remaining 20 percent. Holcim has had a strategic alliance with Cementos Progreso, Guatemala’s only cement maker, since 1990.