Portugal: Cimpor intends to invest around US$1.33bn in Latin America by 2017, according to its CEO Ricardo Lima. The main objective of Cimpor is to reinforce its position in Brazil where it already operates in all regions, except in the northern parts of the country, Lima told the Portuguese news agency Lusa.
The Portugal-based cement producer will spend part of the investment building a new cement plant in northern Brazil, at either Belém or Manaus. Due to positive results in the Argentine market another plant is planned for Argentina's western province of San Juan. In October 2013 Cimpor will inaugurate a plant in Paraguay where it holds a 35% share of the market but where it currently sells its surplus Portuguese cement.