Cemex is aiming to cut its debt by up to US$1bn this year. The company believes it can refinance US$2.9bn in bonds at a coupon of around nine per cent this year, according to a presentation to investors.

Cemex had total debt of US$16.29bn at the end of 2014.

Separately, Cemex said it expected compound annual growth of four per cent in sales volumes between 2014-2016.