Monday, September 24, 2018
Close  
  • share this

Cement firms move to match massive infra buildup

By: - Reporter / @daxinq
/ 05:05 AM March 13, 2018

The country’s cement producers are investing in additional production capacity as demand is expected to grow further this year until 2020 on the back of the Duterte administration’s infrastructure buildup program.

In particular, several large industry players—Cemex Philippines Group of Companies, Eagle Cement, Northern Cement Corp., Pacific Cement Corp., San Miguel Corp. and Taiheiyo Cement Philippines. —have already announced plans to boost capacity.

ADVERTISEMENT

Officials said excess supplies could also be exported to other markets also trying to fulfill demand.

New players are likewise laying the groundwork for their respective investments.

Phinma for instance, registered its cement company in September 2017, aiming to produce approximately three million metric tons (MT) of cement per year. The company bared plans to “engage in processing, marketing, importing, trading, selling, and distributing cement, cement products and other by-products.”

Recently, Phinma imported 50,000 MT of cement or approximately two million sacks of cement from Vietnam. It plans to import the same amount per quarter for a total of 200,000 MT a year.

Phinma is headed by Eduardo Sahagun, formerly of Holcim Philippines, Inc. who joined Phinma less than a year after retiring.

Another new player, Big Boss Cement Inc. which is headed by Henry “Big Boy” Sy Jr., also joined the growing number of domestic cement players.

Big Boss is positioning itself as the “most environment-friendly cement in the world today.” It will use lahar materials as main component of their brand. Small players are also importing more cement in an effort to meet the growing demand.

Although the Philippines still has the lowest per-capita cement consumption compared to its regional counterparts, demand has grown from 12 million MT in 2000 to 24.4 million MT in 2015.

Moreover, cement demand in the country is expected to improve with the Philippine economy. Economic managers see the gross domestic product growing 7 to 8 percent this year.

ADVERTISEMENT

Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Cement firms
For feedback, complaints, or inquiries, contact us.
newsinfo

Dense swarm of bats causes flap at Vienna airport

September 24, 2018 09:37 PM

newsinfo

At UN, Trump calls for global action on drugs

September 24, 2018 09:19 PM

newsinfo

Italy government adopts anti-migrant decree

September 24, 2018 09:10 PM



© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.