The FYM-HeidelbergCement Group cement plant in Málaga, of which the sale to Votorantim Cimentos is being finalised, will stop its clinker production until the end of March. The company said the step was necessary due to the “unhealthy costs of electricity that tax the cost of production since the beginning of the Russian invasion of Ukraine."

The CEO of FYM-HeidelbergCement Group, Jesús Ortiz, attributes the high cost of electricity in Spain to the “marginal pricing” used for charging electricity consumption. Mr Ortiz, who is also vice-president of the Spanish cement association Oficemen, also calls for a temporary disconnection of gas-fired power from the marginal pricing system.

While it guarantees supply to domestic customers, the company expects to significantly reduce export volumes.