Cemento Andino approves investments, to issue bonds
The Board of Cemento Andino has agreed to extend the lease it has with the Credit Bank of Peru (BCP) at US$23m over the contract amount in 2009, which was US$162m, to cover increased costs for the expansion of its cement plant. Cemento Andino is expanding its plant capacity from 1.4Mta to 2.2Mt with an investment of US$180m, but its CEO told local press, that it plans to invest an additional $20m to reach a capacity of 2.5Mta.
Cemento Andino will also initiate efforts to issue corporate bonds worth US$60m.
Published under Cement News
