CIMPOR is set to invest €1.4 billion in Portugal by 2030, focusing heavily on the crucial challenge of decarbonisation. During a recent meeting with journalists, CEO Cevat Mert outlined the company's strategic plans, highlighting that much of this investment will be directed towards enhancing infrastructure, technology, and developing new products.
Major Investment Plans
In October, CIMPOR had already announced a €360 million investment in decarbonisation and innovation projects by 2026. This includes €180 million earmarked for the Alhandra Production Centre located in Vila Franca de Xira, in the Lisbon district.
Expanding Market Presence
CIMPOR aims to broaden its market reach beyond the 14 countries it currently serves. The company is also investing approximately €50 million in a terminal at the port of Bristol in the UK and has plans to invest in France and the US as well.
Ignacio Gómez, the commercial manager, noted that the shift towards European and US markets is driven by new environmental regulations. He pointed out the challenges of exporting to Africa and China, where production costs are lower due to less investment in environmental compliance. Currently, 25% to 30% of CIMPOR's production in Portugal is exported.
Employment and Challenges Ahead
Cevat Mert reaffirmed TCC's commitment to maintaining 100% ownership of CIMPOR, which he described as the company's "gateway to Europe". Despite challenges in attracting talent, the cement company supports around 2000 direct and indirect jobs in Portugal and Cape Verde.
Looking ahead, CIMPOR emphasizes the need to accelerate investments in line with government plans and to simplify project licensing processes. Ignacio Gómez stressed, "If the government doesn't keep up the same pace, we'll have a problem in the future," referencing issues with carbon dioxide (CO₂) transport and project licensing.
Regarding geopolitical uncertainties, Mert expressed cautious optimism, stating he does not foresee immediate threats, emphasizing that as long as there is construction, there will be a demand for cement.
"Everything is going quite steadily... the future is energy and technology," Mert concluded, reinforcing the importance of ongoing transformation in the industry.
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