Spanish cement maker Cementos Portland Valderrivas SA will invest EUR31m (US$38.4m) in its factory in Alcala de Guadaira, southern Spain, between 2004 and 2006, the company said.
The investments will be aimed at improving the efficiency and safety and reduction of the negative environmental impact of the plant.
Cementos Portland has invested 96 mln euro (US$119m) in the Alcala de Guadaira factory since the plant began operation. Recently, the company raised the output of the plant by 30 pct to 1.8Mt a year and has taken measures to reduce the greenhouse emissions by 87 per cent.
For the first half of 2004, Cementos Portland posted a net attributable profit of EUR50.9m (US$63m), a 5.1 per cent YoY decrease, while the consolidated turnover of the company went up by 5.5 per cent YoY to EUR440.8m (US$546.2m).