Colombian conglomerate Grupo Argos, the country’s largest cement producer, is said to be exploring the possibility of re-entering the Venezuelan market it exited almost 20 years ago following the expropriation of its assets there.
The company lost its Venezuelan cement plant, Corporación de Cemento Andino, in 2006 during expropriation under the late Hugo Chávez government, a move it did not receive compensation for at the time. According to recent media reports, Grupo Argos president Jorge Mario Velásquez has indicated confidence that a potential normalisation of political and economic conditions in Venezuela could open the door for former investors to resume operations or otherwise resolve outstanding ownership issues.
Cementos Argos first entered Venezuela in 1998 with its purchase of the Trujillo-state cement facility, which had a designed capacity of around 750,000tpa. Renewed interest in the market comes amid a shifting political landscape in the neighbouring country and expectations of economic recovery, particularly in infrastructure sectors.
The company has acknowledged that significant challenges remain, including questions around legal stability, enforcement of private property rights and investor guarantees — key factors that would influence any future cement industry involvement in Venezuela.
Grupo Argos continues to be a major regional player, operating in multiple Latin American markets and abroad, with a diversified portfolio of cement, concrete and infrastructure businesses.
