Argentina: Cementos Molins to invest $189mn

Spanish cement company Cementos Molins will invest US$189 million (€168.25 million) creating 130 new direct jobs in Argentina. Xavier Molins, the company’s president, met Argentine President Mauricio Macri to discuss the company's plans in Argentina, where it is the main shareholder in Cementos Avellaneda, a company with two cement factories in Olavarria and San Luis, respectively, and five concrete plants.
April 29, 2016 Read time: 1 min

Spanish cement company 4709 Cementos Molins will invest US$189 million (€168.25 million) creating 130 new direct jobs in Argentina.

Xavier Molins, the company’s president, met Argentine President Mauricio Macri to discuss the company's plans in Argentina, where it is the main shareholder in Cementos Avellaneda, a company with two cement factories in Olavarria and San Luis, respectively, and five concrete plants.

The funds will be used to increase cement production in San Luis to 1 million tonnes/year.

Cementos Avellaneda's local production unit there will be expanded through a project that it set to last 30 months.

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