Camargo Corrêa to invest US$1.5bn in Brazilian market

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Brazil: The Brazilian construction group Camargo Corrêa has announced plans to invest up to US$1.5bn in the Brazilian cement industry over a four year period. With the acquisition and control of Portuguese cement maker Cimpor in 2012, Camargo Corrêa, through its cement arm InterCement, became the second largest producer of cement in Brazil.

Of the nine countries the company began operating in through its Cimpor deal, the Brazilian market has the greatest growth potential. The market is expected to increase by 5-6%/yr, according to a report by local paper Valor Econômico. To prepare itself, the company intends to invest US$1.25-1.5bn by 2016.

Planned projects include the construction of four cement plants and an expansion at the company's existing plant in Cezarina, located in the mid-western state of Goiás.

Last modified on 10 April 2013

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