Cementos Argos (Cemargos) gets US$159mn loan to up production

Colombia's biggest cement company Cementos Argos (Cemargos) has obtained a US$159mn loan to expand its productive capacity, the company reported to financial regulator Superfinanciera.

The company obtained the loan from Citibank and the Danish export promotion agency EKF.

The loan will cover the purchase of new equipment to expand the company's Cartagena cement plant production by 1.8Mt/year.

The company will pay for the loan over an 11.5-year period, with a rate at 1.11% over Libor.

Cemargos belongs to Colombian group GEA.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: January 2, 2008

No comments: