Cemex plans $925m in investments in 2021-23
Cemex is said to be investing US$925m in 2021 – 2023 in production capacity expansions and upgrades, as well as in other projects to improve financial margins. Chief executive officer Fernando González said at its Cemex Day 2021 business update that the company plans an expansion of 10 MT/year cement capacity consisting of an extra 7.5 MT/year in the Americas, 1.5 MT/year in the Philippines and 1.0 MT/year in Europe. As a result, Cemex expects a total increase in 2023 full-year profit of $520 million. The company plans to spend around $425m on the cement capacity additions and the remainder will go towards projects on urbanisation and its other business lines.
Strategic planning and business development executive vice president José González said that the focus of the company is on high-growth metropolitan areas, where the company's products and solutions nurture the urbanisation needs of these markets. These areas represent around 70 per cent of the population and around 80 per cent of the gross domestic product (GDP) of construction.