Cemex invests nearly US$250 million in alternative fuels over six years

Mexican cement company Cemex has invested close to US$250 million (€229.69 million) in efforts to replace fossil fuels with alternative energy sources over 2009-2014. This has generated estimated recurring savings of US$130 million/year, depending on the cost of fossil fuels, and according to sustainability director Vicente Saiso, the business is generating 25% of its local consumption and 14% on a global level. The group has also created Cemex Energia, a new division for the development of renewable

April 1, 2015 Read time: 1 min

Mexican cement company 643 Cemex has invested close to US$250 million (€229.69 million) in efforts to replace fossil fuels with alternative energy sources over 2009-2014.

This has generated estimated recurring savings of US$130 million/year, depending on the cost of fossil fuels, and according to sustainability director Vicente Saiso, the business is generating 25% of its local consumption and 14% on a global level.

The group has also created Cemex Energia, a new division for the development of renewable energy projects that will be responsible for installing a number of projects nationwide in order to take advantage of the energy reform.

It has initiated self-supply projects with a recent focus on renewable energy, such as its wind farms in Nuevo Leon and Oaxaca, as it believes that these power sources have a greater future.

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Cemex investing US$1.1bn in Mexico over next 3 years

Mexican cement giant Cemex is to invest around US$1.1 billion in its home country over the next three years, according to its President Rogelio Zambrano. The country's business environment has improved substantially since the 2008 crisis, Zambrano said, and structural reforms also bolster a positive outlook. The firm's plans involve direct investments and those concerning projects managed by Cemex, such as wind farms. Cemex has invested $200 million to expand the second production line at its Tepeaca plant

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