MANILA, Philippines – The cement business in the country further firmed up last year behind favorable conditions that encouraged construction activities nationwide.
Cement Manufacturers Association of the Philippines (CeMAP) president Ernesto Ordoñez said cement sales in 2015 rose 14.3 percent to 24.36 million tons from 21.3 million tons recorded the previous year.
Sales in the fourth quarter alone surged 16.6 percent to 6.08 million tons from 5.21 million tons during the same period in 2014.
Ordoñez attributed the growth to the huge increase in the Department of Public Works and Highways’ budget and private sector confidence in the government.
The government has been increasing the budget for infrastructure to address gaps and support economic growth.
Ordoñez said a generally better weather with less rain as well as new housing projects with low interest rates have likewise helped fuel the growth in the cement business last year.
CeMAP is banking on the growth of construction activities in the country to support higher cement sales.
The group consists of the Cemex Philippines Group of Companies, Holcim Philippines Inc., Lafarge Associated Companies, Northern Cement Corp., Pacific Cement Philippines Inc. and Taiheiyo Cement Philippines Inc.