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Commitments
9 Months Ended
Feb. 28, 2013
Commitments
Commitments
During October 2007, we commenced construction on a project to expand our Hunter, Texas cement plant. In May 2009 we temporarily halted construction on the project because we believed that economic and market conditions made it unlikely that cement demand levels in Texas at that time would permit the new kiln to operate profitably if the project was completed as originally scheduled. We resumed construction in October 2010 and began commissioning in November 2012 and should be complete in the spring of 2013. The total capital cost of the project is expected to be between $370 million and $375 million, excluding capitalized interest. As of February 28, 2013, we have incurred $370.9 million, excluding capitalized interest of $98.1 million related to the project, of which $367.3 million has been paid.