Cimpor's US$145m investment in Ponta Grossa plant postponed

Brazil: Intercement's Cimpor, part of the Camargo Corrêa group, has announced that its US$145m project to build a plant in Itaiacoca, Parana, is suspended. The decision was made due to the ongoing economic crisis in Brazil. The Ponta Grossa plant had been announced in 2011 and was set to have an initial production capacity of 1.2Mt/yr of cement and create 1000 jobs. The company has not disclosed any details about a new timetable for the project, but has confirmed that it is still in plans for expansion in the coming years.