Camargo Correa investment plan announced
Camargo Corrêa has approved a R$ 10.3bn investment plan for the next five years, local business daily Valor Econômico reported Friday.
The company - which has businesses in engineering and construction, cement, steelmaking, textiles, footwear and concessions - aims to triple its annual revenue, to R$ 38.6 billion.
Camargo Corrêa has ambitious plans for the cement area, which will receive around R$ 4 billion for production to more than double, Valor said.
New plants area reportedly planned for possible areas such as Brazil, Argentina, Uruguay, Paraguay, Ecuador, Angola and Mozambique.
According to Valor, Camargo Corrêa had a positive experience in Argentina, with the purchase of Loma Negra in 2005. Cement production in the neighboring country will reach this year a volume that had been originally expected for 2011. (Sergio Caldas) Published under Cement News
