LACEC, one of Ecuador's biggest mining companies, signed an investment contract with the Ecuadorian state in September 2020 with the commitment to invest approximately 9 million dollars in the country.
LACEC, a company that produces and commercializes calcium carbonate, has been planning to build a new industrial plant, with state-of-the-art equipment and control systems such as mills, cyclones, bag filters, and others in Cayambe, Ecuador. Due to Paz Horowitz's assertive advice for the past year, LACEC was able to negotiate and execute an agreement with the Ecuadorian state that obtained the company tax incentives and exonerations for the next 12 years, optimizing the rentability of this new plant. Now that the agreement has been signed, LACEC has been able to save around US$5,400,000. The new plant is estimated to start operations in 2021.
LACEC's Manager, Diego Calisto, congratulated Paz Horowitz's team for its financial, accounting and legal advice during the yearlong procedure. With an investment contract, companies like LACEC are able to save money through tax incentives and exonerations with a commitment to make a productive investment in the country. These types of investments are important in order to increase local production as well as it generates employment in Ecuador.
Paz Horowitz, a leading law firm in the country, has helped four companies in signing investment contracts and has obtained a total amount of US$33,000,00 in savings for its clients in Ecuador.