Peruvian Cement Industry Continues Investments in 2024 Despite Construction Sector Downturn
In the face of a declining construction sector, Peru's leading cement companies are not halting their investments for 2024, focusing on operational improvements, production capacity, and sustainability.
Peru: Despite a challenging year for the construction sector in Peru, major cement companies are not slowing down their investments for 2024. The sector witnessed a 9.3% fall from January to October, as reported by the Central Reserve Bank of Peru (BCRP), and the Peruvian Chamber of Construction (Capeco) projected a further decline of 7.1% in November.
In response to this downturn, key players in the cement industry are directing their investments towards enhancing plant operations, increasing production capacity, and prioritizing sustainability. This strategic focus comes amidst a 3.9% increase in cement prices between October 2023 and October 2022, although there was a 3.2% contraction compared to September 2023.
The commitment to continue investing despite the sector's challenges reflects the industry's resilience and long-term vision to adapt and thrive in a fluctuating economic environment.
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