Titan America today announced that it would abandon controversial plans to build a cement processing plant in Castle Hayne, as the company said the economics behind building the plant did not support the high cost of construction. Meanwhile, environmental groups hailed the decision as a victory for those who fought construction of the plant on concerns over pollution.
“The pace of demand growth in the specific markets does not seem adequate to justify the addition of substantial new production capacity – more so because the costs to construct a new cement plant in the United States have risen substantially in the past few years,” said Titan America CEO Bill Zarkalis, who also cited the pressure that imports will put on the regional concrete market. The company said it would continue to serve North Carolina through its plant in Roanoke, Va.
The North Carolina Sierra Club praised the development.
“The proposed facility would have drastically and negatively impacted the region’s clean air and water,” the group said. “Today’s announcement moves New Hanover County one giant step forward in the right direction towards an economic future built on environmentally sustainable principles.”