CEMEX to supply cement for Panama Canal expansion project
13 July 2010CEMEX, S.A.B. de C.V., a cement producer in Mexico, has entered into a supply agreement with “Consorcio Grupo Unidos por el Canal”, the primary contractor for the construction of the third set of locks of the Panama Canal expansion project.
The contract involves supply of approximately 500 thousand tons of cement. The CEMEX contract represents an integral phase of the Canal expansion project, which includes two locks, the excavation of access channels to the new locks and the widening and deepening of navigational channels.Under the contract, CEMEX will provide specially designed products for the engineering requirements of the work and ensure supply. Over the past two years, CEMEX has invested approximately $300 million in its Panamanian operations, including its plant where it has tripled its cement production capacity. With this expansion, CEMEX will satisfy the needs of building materials of the Panama Canal expansion project and the requirements of the projects that are part of Panamanian Government's investment plan.
