Uruguays's state oil and cement company Ancapwill invest up to US$330mn in upgrading its cement production in Paysandú, company president Raúl Sendic told reporters during a visit to the site.
Ancap plans to upgrade the existing cement plant by investing US$120mn in new equipment in order to boost production to 800,000t/y from the current 250,000t/y.
Some US$30mn will be invested in strengthening the railways that runs between Paysandú and a quarry in Queguay.
At the same time, another US$34mn will go toward new port infrastructure in Santa Marta that will be able to handle bulk materials and liquids.
Ancap plans to invest the remaining US$145mn in a new ethanol facility with a production capacity of around 70,000m3/y of biofuel and 60,000t/y of cattle feed.
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