Holcim to invest $300M
Holcim Philippines Inc., the country’s leading cement maker, is investing $300 million to increase production as it prepares for the government to deliver on a promised infrastructure boom.
In a stock exchange filing on Monday, Holcim Philippines said the investment would increase its cement production capacity by 30 percent to 13 million metric tons by 2020.
The company said the expansion would involve its facilities in Bulacan and Misamis Oriental.
“These projects enable our company to continue playing an important role in the country’s growth,” John Stull, Holcim Philippines president and CEO, said in a statement.
“Our capacity expansion ensures that we can provide a steady supply of quality building materials to support the government’s infrastructure program and the resulting construction activity from the economy’s sustained rise,” he added.
Holcim Philippines said the projects were in line with a goal to expand capacity that started in 2012 with the rehabilitation of its grinding plant in Mabini, Batangas.
This was followed by the streamlining of production in 2015 and its expansion projects in La Union and Davao that are set to be completed in 2019.
“Our company believes in the sustained development of the Philippines. This investment is proof of our confidence in the country and our commitment to be a strong partner for progress. With this, Holcim Philippines will continue being a reliable partner in building a better future for the country,” said Holcim Philippines chair Tomas Alcantara. —MIGUEL R. CAMUS
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