According to Pekenc, Lafarge had also invested P700 million in Fortune Cement which is Lafarge’s biggest plant in the country.
All in all, Pekenc said, Lafarge has invested almost $1 billion for its five cement plants in the country that aside from Fortune Cement, include Premiere Cement, Iligan Cement, Mindanao Portland Cement and FR Cement.
Lafarge’s continuing investment in the Philippines, Pekenc said, signifies its confidence in the country.
However, Pekenc stressed the need for the government to maintain the safeguard measure against imported cement especially at this time when there is a global excess capacity.
The government, Pekenc warned, should protect the local market against cement dumping.
Lafarge is among the French companies that are participating in the current French business delegation networking visiting the Philippines together with French Minister for Foreign Trade Francois Loos.
According to Loos, most of the French companies already in the country are generally satisfied, although a few French companies engaged in finance and banking are a little concerned about the country’s continuing fiscal deficit problem.
The visiting French delegation are interested in investing in infrastructure, electric power distribution, transportation and agro-business, Loos said.
The security problem, Loos said, is "always a problem" that is different in each country.