Argos announces US$23m investment in Honduran strategic projects
Argos will invest US$23m in several projects to improve operations at its Honduran plants. The investment is also expected to support the country’s growth and development.
The company will expand its installed capacity at Piedras Azules, Comayagua, to increase its annual cement production by 35 per cent as it forecasts accelerated market demand.
Furthermore, Argos will invest in renewable energy by expanding its solar farm in Comayagua, which was opened in 2020, and currently consists of 32,160 panels that supply up to 20 per cent of the plant’s energy requirement. The expansion will see an additional 5MW installed, increasing capacity to 15MW, or 25 per cent of the plant’s energy requirement. Argos will also build a 1.2MW solar farm at its plant in Río Blanquito, Choloma, by installing approximately 2000 panels.
In addition, it will strengthen its waste management and co-processing programme through the acquisition of new equipment and facilities to prepare and use waste-derived fuels. Argos targets a 12 per cent thermal substitution rate by 2030, reducing CO2 emissions by up to 14 percent as well as contributing to the responsible management of more than 5500tpa of solid industrial waste.
Between 2022-23 the company expects to generate more than 500 direct jobs during the construction phase of these projects.
"This investment is a vote of confidence of Argos in Honduras and represents our commitment to the country's economic reactivation and our firm determination to contribute to the consolidation of prosperous and sustainable communities based on competitive and visionary initiatives. We will continue our efforts to promote the development of Honduran families through the creation of social value at a national level,” says Luis Eduardo Tovar, CEO of Argos Honduras.
