MANILA, Philippines — The Phinma Group plans to invest about P2 billion to put up a new facility in Davao to further solidify its presence in the cement industry.
“We’re putting up our Davao plant which is almost similar to Mariveles plant. That is in joint venture with some of our partners in Davao,” Philcement Corp. president and CEO Eduardo Sahagun said.
“That will bring our total capacity to somewhere like five million tons if all those things will be completed in a couple of years,” he said.
Sahagun said the company is working on the environmental clearance certificate for the planned Davao facility which will cost about P2 billion.
Philcement is a 60 percent owned subsidiary of Phinma Corp.
Philcement’s Mariveles cement facility in the Freeport Area of Bataan is considered to be the first state-of-the-art cement facility in the country and one of the largest independent cement terminals globally.
The facility has an initial annual capacity of two million metric tons of cement or 400,000 bags a day.
The cement processing complex serves as an importation, manufacturing, storage and bagging facility of Philcement.
Last January, the company also signed a manufacturing and sale agreement to enable Philcement to operate the Petra plant in Zamboanga del Norte.
The plant comprises a cement grinding facility with a capacity of 500,000 metric tons per annum which serves the growing and dynamic Northern Mindanao market.
Phinma said the move is aligned with Philcement’s growth strategy and its commitment to assure Filipino consumers with reliable and high quality supply of cement products under its legacy brand, Union Cement.