Plans are underway to create a new cement company in Paraguay, Cementos Concepción (Cecom). Paraguay’s President Mario Abdo Benítez and members of his cabinet met with José Ortiz, CEO of tobacco company, Tabacalera del Este (Tabesa) to discuss the investment in the country’s cement industry.

Cecom is a venture by Grupo Cartes, Grupo Jiménez Gaona and José Ortiz to build a 1Mta cement plant, a project representing an investment of US$180m. The new production facility will be located south of Vallemí, between Tres Cerros and Morado, in the San Lázaro district of Concepción.

During construction the project will create 1500 jobs while following commissioning operations at the plant will lead to 500 direct and indirect jobs, according to Última Hora.

According to Mr Ortiz, the new company will not present any risk to current players such as Industria Nacional del Cemento and Yguazú as Cecom will address the current cement shortage and market growth. Paraguayan cement demand is expanding by around seven per cent annually.