Colombia: Ricardo Naya, the president of Cemex Colombia, says that he expects that the company's new US$356m cement plant at Maceo in Antioquia will go into operation at the end of 2018. At present the company is trying to guarantee with the Regional Autonomous Corporation of Antioquia environmental agency that it will have the necessary permits to operate the plant at full capacity, according to the La Republica newspaper.
In 2016 Cemex fired several senior staff members in relation to the Maceo project and its subsidiary’s chief executive resigned. This followed an internal audit and investigation into payments worth around US$20.5m made to a non-governmental third party in connection with the acquisition of the land, mining rights and benefits of the tax free zone for the project. The US Department of Justice has also investigated the project.
Cemex Colombia is also fighting a fine by the Superintendent of Industry and Commerce (SIC) for alleged market collusion in the cement business. It agreed to pay the fine but has appealed to the Dispute Tribunal.
