Cementos Yura, a subsidiary of the Gloria Group, has commenced operations at its new cement and clinker production plant in the Ica region, south of Lima, Peru. The US$4m facility aims to bolster cement supply in the region, providing critical inputs for the construction industry.
The new plant, situated in the Los Pobres sector along the Panamericana Sur highway, occupies 11,000m². This includes a 1,655m² warehouse and a 4,900m² manoeuvring yard. The Ica facility complements Yura Cement’s existing operations in Arequipa, underscoring the company’s efforts to expand its regional footprint.
At the end of September, Juan Carlos Burga, Yura Cement’s general manager, highlighted ongoing investments in the company’s operations. This includes the construction of a solar energy plant expected to become operational in early 2025. By the close of 3Q24, Yura had executed a budget of PEN94.5m, allocated towards capacity expansion, machinery upgrades, cost efficiency measures, and minor construction projects. This expenditure exceeded the company’s earlier projections, which had placed total 2024 investments between US$50m and US$80m.
Despite these advancements, Yura’s clinker production for Q3 2024 fell by 0.3 per cent year-on-year, following minor maintenance shutdowns, while cement production dropped by 6.6 per cent, attributed to weaker sales in the self-construction sector. Domestic cement shipments declined by 6.6 per cent, reflecting reduced demand, although exports rose by 0.5 per cent due to increased sales to Chile.
Yura’s net sales reached PEN332.3m for 3Q24, a 2.7 per cent decline compared to PEN341.3m in the same period last year. The dip was driven by lower domestic demand and price increases. Nevertheless, net income grew to PEN86.7m, up from PEN82.1m in Q3 2023, supported by higher unit prices, improved cost efficiencies, and reduced financial expenses.
This investment in Ica underscores Cemento Yura’s strategy to enhance operational efficiency, expand production capacity, and adopt renewable energy technologies as it navigates fluctuating market conditions and positions itself for long-term growth.
