TITAN Group announced through its subsidiary, Titan America LLC, a new investment of $ 35 million for the construction of a 70,000 ton vaulted warehouse at the Port Tampa Bay import station in Florida, USA, making it the largest of its kind in country.
The investment will upgrade Titan’s import capacity in the US, while at the same time increasing the supply of cement and cement products with low carbon footprint in the country.
The upgrade of the Port Tampa import station comes at a time when the Florida market is growing rapidly and large investments in infrastructure are expected. The American Cement Industry Association (PCA) forecasts continued growth and increase in cement consumption in the US by 14.8% from 2020 to 2024, a percentage that does not include the growth prospects of the $ 1 trillion investment program. announced for infrastructure.
The upgrade of the import station will also strengthen the ability to deliver imported cement products to meet the growing demand in the US and to contribute to the achievement of the Group’s goals for a neutral carbon footprint.
Titan’s investment underscores the Group’s commitment to supporting US customers in the infrastructure and housing and commercial construction sectors with high-performance products, while helping to mitigate climate change.
With an estimated project completion date of early 2023, the station upgrade is being added to other recent investments in Titan’s Pennsuco Cement Plant in Medley, Florida. These investments, which exceed 20 million dollars, include projects such as the construction of a plant for the processing of alternative – secondary fuels, as well as infrastructure for the use of natural gas. Combined, they will make it possible to gradually replace fossil fuels with low-carbon alternative fuels, significantly reducing both the plant’s environmental footprint and the volume of municipal waste to be disposed of.
Source From: Capital