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Mexico-based Cemex Cement Company says it has invested more than J$23 billion in Caribbean Cement Company over the last eight years, as part of its commitment to the company and Jamaica.
Speaking at a town hall meeting with workers, Cemex CEO Jaime Muguiro said the investment over the period 2017 to 2025 has helped to improve efficiency, strengthen operations, expand production capacity and sustain profitability.
Despite the major investments, however, Caribbean Cement has been unable to fully satisfy the growing demand for cement in the Jamaican market, and that has prompted the government to grant licences to five companies to import 390,000 tonnes of cement in an effort to address supply challenges.
The government has said increasing cement availability is critical to maintaining construction output and protecting employment in the sector.
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