Cementos Yguazúo seek approval for new mill

Cementos Yguazúo seek approval for new mill
Published: 01 July 2005

Paraguayan cement company Cementos Yguazúill seek approval from the country’s industry and commerce ministry (MIC) for a planned US$17m cement mill, newspaper Útima Hora quoted Concret-Mix president Joséogarí as saying.  Cementos Yguazús owned by Brazilian cement firm Camargo Corrê Cimentos and Paraguayan construction company Concret-Mix, which proposed the project earlier this month.  Bogarí sought to allay fears that the proposed plant would compete with or take business away from state-owned cement company INC by saying that the proposed plant would only meet market demands that are currently not being met. 

The mill, which will be built in the city of Mariano Roque Alonso, will produce some 500,000tpa of cement, of which 200,000tpa would be sold in Paraguay, with the rest exported to Argentina, he said.  Of the proposed US$17m investment, Camargo will fund US$9.5m and Concret-Mix US$7.5m. 

For the installation of the plant, Cementos Yguazúill seek to obtain the benefits offered under the country’s investment promotion law (Ley 60/90), Bogarí said.  Up until now Paraguay’s sole cement producer, INC has installed clinker production capacity of some 675,000tpa.