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Holcim to build $550-m cement plant

By Jenniffer B. Austria | Posted on May. 09, 2013 at 12:01am |
Cement maker Holcim Philippines Inc. said it obtained an initial approval from its parent company to construct a $550-million new cement plant to meet expected surge in demand amid increased economic activity.
Holcim Philippines chief executive Ed Sahagun said in a news briefing the company obtained a first phase approval from Zurich-based Holcim for the construction of a new cement plant in Bulacan that will have a capacity of 2.5 million metric tons annually.
Sahagun said with the first phase approval, the company might obtain quotations, organize project team and proceed with securing permit requirements.
The final approval will be discussed in September, he said.
Holcim Philippines plans to have the new plant on stream by 2016.  “The timing of the construction of new plant is perfect because the country is doing well in a lot of aspects,” Sahagun said.
Sahagun said he expected demand for cement to further improve, once the public-private partnership projects were implemented.
Holcim Philippines said net income in the first quarter grew by 77.2 percent to P1.43 billion from P807 million posted in the same period last year on surge in demand and higher cement prices.
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