Paraguayan state-owned cement company INC needs a $70m (ERU59m) investment in modernisation and doubling its clinker capacity, according to INC president, Amilcar Troche, said. NC will allow private capital to enter the company because it needs to improve product quality and enhance competitiveness, he added. The modernisation project envisages installation of a modern mill and kiln in the plants in Vallemi, eastern Paraguay, and Villeta, western Paraguay.
INC debt totalled PYG75bn (US$13.3m) on January 31, 2004, when Troche took over the post of president of the company. The debt of the company currently stands at PGY45bn (US$7.97m).