Sao Paulo, Brazil, 27 May – Cement maker Cauê, of Brazilian construction group Camargo Corrêa plans to invest US$370 million in building a cement factory in Angola with an annual production capacity of 1.5 million tonnes, said the company’s chairman, Humberto Farias.
Speaking to Brazilian daily Gazeta Mercantil, Farias said that construction of the cement factory had been under negotiation “at least since last year” and would be carried out in partnership with Angola’s Gema, Portugal’s Escom and the Camargo Corrêa group, via the engineering company it operates in Africa.
In Angola, the investment will be much higher than the company’s investment in Paraguay, not only because the cement company will be four times bigger, but also because it is necessary to invest both up- and downstream of the factory, in roads, power generation, port structure and other areas.
The cement factory in Paraguay represented an investment of US$90 million for annual production of 400,000 tonnes.
In Brazil, the company has five factories, with production of 51 million tonnes of cement per year, which accounts for around 5 percent of all cement produced in Brazil.
Investments in the group’s Brazilian units are projected to total US$60 million this year with a view to increasing production capacity.
“We are looking at other opportunities in Africa, either via acquisition or by building factories. The crisis has made a lot of assets interesting,” said Farias. (macauhub)