Brazil’s Camargo Corrêa invests in cement factories in Angola and Mozambique

24 October 2007

Sao Paulo, Brazil, 24 Oct – Brazilian construction company Camargo Corrêa plans to invest US$270 million in building cement factories in Angola and Mozambique over the next two years, said the director of the holding company José Edison Barros Franco.

In Angola, the company plans to build two cement factories to supply the domestic market, which will be supplied from Brazil until the two units go into operation.

“Africa is already one of our areas of expansion, in the construction sector, Angola and Mozambique are markets with exceptional potential with a serious lack of production and increasing consumption,” said Barros Franco.

In total, the Camargo Corrêa group will make an investment of over US$5 billion by 2012 and in the area of cement it will invest over US$2 billion over the next three years.

The company plans to open new cement factories in Brazil and in South American and African countries, over the next two years.

The aim is to position Camargo Corrêa Cimentos in the Top 20 in the world industry and the main company in the Latin American market by 2012. The company is currently 37th in the world.

In Brazil, the company plans to invest US$350 million to build two new factories with a capacity to produce 1 million tons per year each. (macauhub)