Cemex says demand for cement to grow 10% a year in Latvia

Cemex says demand for cement to grow 10% a year in Latvia
Published: 14 November 2006

Cemex expects that the demand for cement in Latvia will be growing an average 10 per cent each year, as the company’s press secretary Agnese Praulina told local press.  
According to the company’s investment plans, it will be able to meet the demand, as well as export cement from Latvia in the future, Praulina said.  
As reported, Cemex, owner of the Broceni cement factory, will construct a new cement terminal in Liepaja, investing USD 5.2m (LVL 2.8 million) in the project.  
The company had decided already earlier that it would establish its terminal either in the port of Liepaja or in Ventspils. Liepaja was chosen because it has an excellent railway connection with the Cemex plant in Broceni (Saldus District in Kurzeme region).  
Construction of the new terminal will be launched next spring, and finished at the end of 2007.  
Cemex is also planning to build a new concrete production plant and to buy several concrete plants in the suburbs of Riga.  
According to the company’s strategy, more land would be bought in the following years to build new plants, or the company would purchase already existing concrete plants in Riga. Cemex’s future plans also envisage expanding into other Latvian cities. The company is ready to invest about two million lats into each plant, apart from costs for land purchase.