San Miguel to build two cement plants in the Philippines

Byjirong

Updated Fri, 10 Jul 2015 17:10:29 GMT

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.