Mexico’s Cemex to pump $20 mln into Egypt operations this year

Mexico’s Cemex, one of the world’s largest cement producers, plans to boost its investments in Egypt to $1.220 billion, said Cemex Egypt’s president Ramon Piza.

The Mexican cement maker plans to invest $20 million in the country this year, Piza added following his meeting with Egyptian Minister of Investment and International Cooperation Sahar Nasr in Cairo.

Egypt ranks first, having the biggest share of Cemex’s investments in the Middle East, the Mexican official added.

Cemex, is a Mexican multinational building materials company that manufactures and distributes cement, ready-mix concrete, and aggregates in more than 50 countries. It is the second largest building materials company worldwide, only after LafargeHolcim.