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San Miguel to build two cement plants in the Philippines
In the Philippines, San Miguel Corp. has confirmed it is looking into investing US$800 million in two new cement plants, as demand in the country is expected to increase. Each plant would have a capacity of 2 million t and both are scheduled for completion in 2017. One of the cement plants will go up at Northern Cement Corp. s existing facility and the second one will be built in Quezon province.
The plants will be funded 50/50 by loan and equity, the company has confirmed. San Miguel Corp. holds a 35% stake in Northern Cement Corp. The new plants will bring the company s total cement production capacity to 10 million t.
Cemex recently announced that it is building a 1.5 million t cement production line at its Luzon plant in anticipation of greater demand for cement in the Philippines.
UAECEMENT.COM
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Jul ,13,2015
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