Paraguayan state-owned cement producer INC will invest between US$35mn and US$40mn to upgrade its production facility in eastern Central department's Villeta city, according to the firm's president, Optaciano Gomez.
INC is scheduled to open bids for the project on Thursday (Sep 23), the presidential website reported.
The plant currently produces 70,000 bags of cement per day, said Gomez, rejecting arguments that a lack of cement has slowed construction work in the country. The plant upgrade will increase production by 33%, he added.
INC produces 74% of the cement used Paraguay, said Gomez, adding that he is concerned about some distributors hiking cement prices.
Paraguay has been suffering cement shortages for years due to low production of Portland cement by INC, leading some construction companies to import cement from neighboring Uruguay.