Oficemen: plant closure possibility if power price continues to rise

Oficemen warned of a potential closure of cement plants and stoppages if the price of electricity in Spain continues to rise and cement production becomes more expensive, endangering the competitiveness of Spanish cement in the export markets. Power accounts for around 30 per cent of production costs.

"If the export market is not viable due to the increase in electricity costs, we will not be able to maintain production levels as they are now and plants dedicated to exports will be closed, like some coastal plants," said the Oficemen President , Jaime Ruiz de Haro.

The issue is particularly poignant as the Spanish cement industry relies significantly on exports to offset the decline in domestic consumption.