The construction company Camargo Corrêa announced this Friday an investment of US$ 50 million in Argentina for the production of cement and in railroad transport services.
The investment, which adds to another US$ 50 million already spent this year, was announced today by the conglomerate directors in a meeting with Cristina Kirchner, president of Argentina.
According to the Argentinean Presidency, the new investment will be split in US$ 35 million to Loma Negra, Argentinean cement manufacturer controlled by Camargo Corrêa, and US$ 15 million to Ferrosur, a railroad transport company.
The Brazilian company’s purpose is to increase the capacity for transporting cement from the Loma Negra plant, in the city of Olavarría, province of Buenos Aires, to the Cañuelas mill and expand the inventory capacity at the mill.
Since it purchased Loma Negra, in 2005, the Camargo Corrêa group has invested US$ 300 million in Argentina.
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Loma Negra, the biggest cement manufacturer in Argentina, has nine plants, six of them in the province of Buenos Aires and the others in the provinces of Neuquén, Catamarca and San Juan.
The company and its subsidiary Ferrosur have 2,700 direct employees and 6,000 indirect employees.
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