Jul 14 2010
CEMEX, S.A.B. de C.V. (NYSE: CX) announced today the signing of a supply contract 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 supply contract calls for 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.
”We are proud to have been selected to be part of the Canal expansion project, which has real promise to be a catalyst for development for the Country of Panama," said Jesus Gonzalez, president of CEMEX Central America.
"As part of the contract, CEMEX will provide specially designed products for the engineering requirements of the work and ensure supply, a result of investing in expanding our production capacity since 2008. We at CEMEX look forward to being part of Panama’s growth.”
CEMEX will supply approximately 500 thousand tons of cement for the construction of the third set of locks of the Panama Canal expansion project.
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 successfully 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.
Source: http://www.cemex.com/