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News Mexican government to offer Vulcan Materials US$390m for Quintana Roo quarry and terminal

Mexican government to offer Vulcan Materials US$390m for Quintana Roo quarry and terminal

Written by Global Cement staff 01 August 2023
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Mexico: The Mexican ambassador to the US is due to make US-based Vulcan Materials an offer of US$390m to sell a 2400 hectare parcel of land in Quintana Roo to the government. The land includes a disused limestone quarry and the Riviera Maya cement terminal, which is currently used by Cemex. The government's Ministry of the Environment ordered the closure of the quarry in May 2022, when it also banned Vulcan Materials from despatching limestone.

Mexican President López Obrador said that Vulcan Materials 'shouldn't reject the offer.' He added "We’ll buy everything from them, we’ll pay immediately and we’ll turn 2000 hectares into a natural protected area. They’ll be able to say "We’re contributing to stopping climate change." And we’ll only keep one part, to carry out an ecotourism development with a cruise ship pier.”

Associated Press News has reported that Vulcan Materials has filed a valuation showing the land to be worth US$1.9bn.

Last modified on 02 August 2023
Published in Global Cement News
Tagged under
  • Mexico
  • Vulcan
  • Government
  • offer
  • land
  • Quarry
  • Terminal
  • tourism
  • GCW619
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