April 26, 2016 / 12:47 AM / 2 years ago

Spain's Cementos Molins plans $189 mln investment in Argentina

BUENOS AIRES, April 25 (Reuters) - Spanish cement maker Cementos Molins SA, the main stakeholder in Argentina’s Cementos Avellaneda, said on Monday it plans to invest $189 million in the South American nation to increase production and create jobs.

President Mauricio Macri has said that reconciling Argentina with global capital markets, one of his main priorities since taking office in December, will help unleash a wave of foreign investment to revive the stagnant economy.

“There are better conditions to make new investments in the country,” the company said.

The investment will be used to expand production at the company’s cement plant in the central province of San Luis to 1 million tonnes, from a current 300,000 tonnes. (Reporting by Jorge Otaola; Writing by Anthony Esposito; Editing by Cynthia Osterman)

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