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Cuba Establishes Joint Venture in Construction Sector |
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Monday, September 28, 2020
Havana.- The joint venture Wimpera S.A., of Spanish and Cuban capital, was established in Cuba to produce waterproofing materials.
The objective of the firm is to meet 80 percent of the domestic demand for these products, with a significant presence of raw materials from the country.
It is intended to develop different lines of waterproofing products in function that the company can respond to the investment system in Cuba.
In its first year of operations, Wimpera S.A. is expected to replace the import of some 12 million dollars, with the possibility of reaching 18 million in 2024.
Likewise, the establishment of the company ratifies the foreign partners' confidence in negotiating with Cuba, taking into account the guarantees offered by the State.
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