Apr 12 2010
Blue Rock Cement Holdings S.A. (Blue Rock) announced today its plans to develop a new US$230 million cement plant in Peru.
The new plant will have an initial production capacity of 1 million tons of cement per year. The new plant is expected to be commissioned in early 2013 and will be built in the south of Lima, approximately 90kms from the city.
Allen Sanginés-Krause, Blue Rock Managing Director said: “We are excited by our incursion into the Peruvian building materials market. Peru’s economy has attractive fundamentals, a strong long term growth potential, as well as a favorable investment landscape.”
Demand for cement in Peru, has sustained average annual growth rates in excess of 10% in the last years, underpinned by strong construction activity resulting from a robust economy. The Peruvian construction sector has performed well through the global economic crisis, and has also maintained compounded annual growth rates above 10% in the last years, well above the average for South America.
Blue Rock Cement Holdings, S.A. is an investment vehicle created in 2010 to invest in cement and related assets such as aggregates and ready-mix concrete, mainly in emerging and high-growth markets.
CEMEX, S.A.B. de C.V. of Mexico, is a minority shareholder in Blue Rock, and will assist in the development, construction, and operation of the new cement plant. Pursuant to an agreement between Blue Rock and CEMEX, CEMEX provides a wide range of technical, operational and commercial services to its projects
Source: http://www.cemex.com/