CEMEX, S.A.B. de C.V. (NYSE: CX) announced today that it is supplying nearly 100,000 tons of cement for the construction of Line 1 of the Panama Metro, a stretch of approximately 14 kilometers that is intended to connect two key hubs of the metropolitan area of Panama City. With this project, Panama would become the first country in Central America with a Metro system.
“Our participation on the Panama Metro project highlights CEMEX’s constant efforts to provide tailor-made building solutions to its customers and to foster well-being and progress in the countries in which CEMEX operates. We are sure that the Metro will serve as a milestone in the city’s growth in the medium and long term”, says Ramon Pizá, President of CEMEX in Panama.
The Metro line will be both above and below ground and will require the construction of tunnels, trenches, and viaducts, as well as the railway. The Metro line will cross the city and connect the main terminal of the National Bus Station in Albrook with the Los Andes Commercial Center in the northern metropolitan area of Panama City. The Metro line is expected to have an initial capacity of 15,000 people per hour in 2014, and is expected to benefit close to 40,000 users by 2035, according to public statements released by the Government of Panama.
CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX or the project herein described to be materially different from those expressed or implied in this release. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.
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