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14 July 2024

Fall in oil price to save $100m for Cemex SAB

By Staff Writer

Cemex SAB, the largest cement producer in the Americas, expects to save about $100 million (Dh367m) on energy for its cement and concrete plants worldwide as oil and natural gas prices drop from highs last year.

Cemex's cost of electricity and fuel to operate its plants will likely decline to $1.2 billion from $1.3bn in 2008, said Luis Farias, Director of Cemex's energy group, yesterday.

The company will also save on fuel costs for its fleet of 15,000 concrete trucks, Farias said, who did not have an estimate for those savings.

The company began operations this year on a wind-driven power plant in Mexico that will generate 250 megawatts of electricity by October.

It is studying plans to increase that capacity to 300 megawatts.