Ancap invests to modernise cement plants, Uraguay

Ancap invests to modernise cement plants, Uraguay
Published: 19 May 2006

Raul Sendic, vice president of the state run Ancap, Uraguay, said the company board has approved investments of US$13m to modernise its cement plants. Part of the investments would adapt the units to use coal as energy source instead of fuel oil, slashing costs. Over the next days Ancap is to approach Camargo Correa, the controller of the Argentinean cement major Loma Negra, to negotiate a commercial agrement. Ancap has a 55 per cent share in the Uruguayan cement market and competes with Compania Uruguaya de Cemento Portland, however Ancap’s portland cement division has annual losses of US$3m.