- With this investment project, the company will make operational improvements to expand its installed production capacity nationwide.
- The company will also invest in renewable energy by expanding its solar farm in Comayagua and installing a new one in Río Blanquito.
- Between 2022 and 2023 the company will generate more than 500 direct jobs during the construction phase of these projects.
Argos, a leading cement producer in Honduras with a 40-year track record in the market, together with its strategic partner, the Military Welfare Institute, announces an investment of USD 23 million over the next two years, with the aim of boosting the country’s growth and development.
The investment funds will be used for strategic projects such as the expansion of the production capacity of its Piedras Azules plant, located in Comayagua, the extension of the solar farm currently operating adjacent to the cement plant, the installation of a new solar farm at its Río Blanquito, Choloma, operation, and the strengthening of the waste management and co-processing program.
«This investment is a vote of confidence of Argos in Honduras and represents our commitment to the country’s economic reactivation and our firm determination to contribute to the consolidation of prosperous and sustainable communities based on competitive and visionary initiatives. We will continue our efforts to promote the development of Honduran families through the creation of social value at a national level,» said Luis Eduardo Tovar, CEO of Argos Honduras.
The expansion of the installed capacity of the Piedras Azules plant will allow Argos to increase its annual cement production by 35% and is the cement company’s way of preparing itself to meet the accelerated market demand, which it serves from its 3 production and logistics centers nationwide.
In addition, the solar farm in Comayagua, inaugurated in 2020 and currently consisting of 32,160 solar panels that supply up to 20% of the plant’s energy consumption, will increase its capacity to supply up to 25%, equivalent to an additional 5 MW, for a total of 15 MW for the solar farm, allowing Argos to reduce its annual CO2 emissions. At its Río Blanquito operation, the cement company will launch a second solar farm with an estimated projection of 1.2 MW with the installation of approximately 2,000 panels. All this reaffirms Argos’ commitment to sustainability and environmental care.
The announced investment will also be used to strengthen the industrial waste co-processing program, through the acquisition of new equipment and facilities to prepare and consume waste-derived fuels, with the purpose of achieving up to 12% substitution of fossil fuels by 2030. This represents an environmental benefit for the company as they will reduce CO2 emissions by up to 14% and contribute to the responsible management of more than 5,500 tons of solid industrial waste per year. In recent years, the company has co-processed more than 1.5 million waste-tires in the country and recently signed an alliance with Fundesur and Fundación Herco to collect up to 5,000 tires per month in Choluteca and co-process them as an environmentally responsible solution for this waste.
This investment will be executed between 2022 and 2023 and will generate more than 500 direct job openings, which will also boost local economies and promote a more prosperous future for Hondurans.
About Argos Honduras
It is a company with a 40-year track record in the Honduran cement market and is a source of employment for more than 2,500 people directly and indirectly in the country. Argos has left its mark on the country’s development by participating in important infrastructure projects such as the construction of the CA-5 highway, the second peripheral ring road in San Pedro Sula, the new building for the Central Bank of Honduras, the main South Highway, the El Cajón hydroelectric dam, and the Palmerola International Airport, among others.
Over the last five years, it has invested more than 55 million lempiras in social support programs to benefit its neighboring communities. Backed nationally and internationally by certifications and recognitions in sustainability, social responsibility, road safety, gender equity, and environmental management, Argos is a benchmark for its good business practices with a high sense of social, economic, and environmental responsibility.