Cemex completes financing for $650-M wind farms

MANILA, Philippines - CEMEX, S.A.B. de C.V. announced that it has successfully completed the financing of Ventika, a $650-million project comprising the construction of two 126 MW wind farms each, for a total nominal capacity of 252 MW to be located in General Bravo, Nuevo Leon, Mexico.

CEMEX developed the project, providing its industry-leading technical expertise and skills in the clean energy industry. Construction will begin in the 2nd quarter of 2014 and commercial operation is expected by the 2nd quarter of 2016.

Earlier, CEMEX Philippines recently announced its capacity expansion project in its APO Cement Plant in Naga City, Cebu through an investment of approximately $80 million. This development will increase cement production by 1.5 million metric tons per year and the project is expected to be operational by mid-2014. CEMEX’s increase in production capacity is a response to the growing demand for a reliable cement manufacturer and building solutions supplier in the Philippines.

“We are preparing our facilities for the increasing demand in the Philippines, and with this expansion also comes our plans to continuously improve the efficient way we use energy, which is one of the most expensive input costs in our process,” said CEMEX Asia president Joaquin Estrada.

CEMEX Philippines uses alternative fuels such as rice husks and Refuse Derived Fuel (RDF) instead of coal to effectively minimize energy cost. Additionally, CEMEX Philippines in partnership with Chinese Sinoma Energy Conservation Ltd. is building an $18.6 million waste heat-to-energy power plant in its Solid Cement facility in Antipolo City, Rizal and will have the capacity to capture the cement plant’s excess heat to produce usable electricity.

“These projects are at the forefront of CEMEX’s thrust to promote economic and environmental sustainability, not only in Asia but in its worldwide operations,” Estrada stressed.

 CEMEX Philippines is the manufacturer of the only eco-labeled cement brands in the country including Island Portland Cement, Palitada King, Rizal Portland Super, Rizal Masonry Cement, APO Portland Premium, APO Portland Cement, APO Masonry Cement, and APO Pozzolan.

For more information, log on to http://www.cemexphilippines.com or for partnerships, please contact the public affairs Unit and email [email protected].