Eagle Cement to run in March

Byswb

Updated Thu, 21 Jan 2010 00:00:00 GMT

The new P6.78-billion Eagle Cement Corp. plant of magnate Eduardo Cojuangco in Meycauayan, Bulacan, is set to begin commercial operations in March, company officials informed the Board of Investments (BOI).

Trade Undersecretary and BOI managing head Elmer Hernandez said the opening of Eagle Cement is timely with the persistent reports of price increases and tightening of supply of cement in the market.

The plant, he said, will be running on full capacity of about 1.5 million metric tons.

"I talked to the people of Eagle Cement and they said by March they will be operating. So that will augment the supply of cement," Hernandez told reporters.

He said the additional capacity is welcome news for the construction sector, especially since it is forecasting a sizable growth this year.

But while Cojuangco is finally starting his new cement venture, the planned cement plant of the Yuchengcos in Cebu has been reportedly shelved, Hernandez said.

He did not give a reason the Cebu plant is not proceeding as planned.

The DTI earlier placed the cement industry - dominated the foreign triumvirate of Holcim, Lafarge and Cemex - under investigation anew after the agency received reports of unwarranted price increases in some areas. The agency also gathered reports of low-level supply in some provinces.