BOGOTA, Sept 15 (Reuters) - Cementos Argos, Colombia’s largest cement maker, will build a $450 million cement plant in the central area of the Andean country, the company said on Monday.
On completion in 2018, the plant will boost Cementos Argos’s annual production by 24 percent to 11.8 million tons.
“This investment reflects our confidence and commitment to development in Colombia,” President Jorge Mario Velasquez said in a statement.
The company did not provide details of how it would fund construction.
Cementos Argos’ parent, Grupo Argos, is part of Grupo Empresarial Antioqueno, Colombia’s largest industrial conglomerate and also owns electricity generator Celsia . (Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Lisa Von Ahn)