Businessman Ramon S. Ang is investing some $300 million in building a new cement manufacturing plant in Davao City through his privately held Eagle Cement Corp., boosting production capacity in anticipation of higher infrastructure spending in the country.
Bullish on Mindanao’s growth prospects, Ang Wednesday said Eagle Cement would break ground for the project on Oct. 20.
The new cement plant will be capable of producing two million tons or 50 million bags of cement per year. It is expected to start commercial operations by March 2019, Ang said in a text message.
Ang —who is also president and chief operating officer of San Miguel Corp.—said the construction of the cement plant was in line with Eagle Cement’s plan to strengthen its position in the industry and to help support the country’s growth.
Eagle Cement has identified Davao as a key growth area in the Philippines.
In 2013, power unit San Miguel Global Power Holdings Inc. broke ground for a new power generation facility in Malita, Davao. The new 300-megawatt power plant, which is at the 2,000-hectare Philippine Economic Zone Authority (Peza)—accredited industrial estate that SMC is building in the province, is now fully online.
Davao is also home to a brewery of SMC subsidiary, San Miguel Brewery Inc. Doris Dumlao-Abadilla