Peru’s Cementos Lima to double planned investments

Peru’s Cementos Lima to double planned investments
15 September 2010

Peru’s leading cement producer, Cementos Lima, said it will double planned investments for the period 2010 to 2013.

In a report to Peru’s securities regulator late Monday, the company said it would increase its investment levels to US$610m from the US$307m it announced in May.

Demand for cement in Peru has been rising in line with a booming economy and increased spending on basic needs such as houses and electricity, as well as a series of public works projects.

Cement production in the first seven months of the year rose by almost 18% to 4.6Mt, compared to the same period last year, said Peru’s private-sector National Association of Cement Producers.

Peru’s gross domestic product rose by 11.92% in June, compared to the same month a year earlier, while the forecast for full year 2010 GDP growth is about 8%.

Published under Cement News