CEMEX invests $300M in Luzon plant production line

MANILA, Philippines – Mexican firm CEMEX announced that it is undertaking a new $300-million investment in the Philippines.

In a statement  on Friday, May 15, CEMEX said the new investment will include the construction of a new 1.5-million ton, integrated cement-production line at CEMEX’s solid plant in Luzon.

This will double the capacity of the solid plant and will represent a 25% increase in the company’s cement production in the Philippines.

CEMEX emphasized its continued commitment to the growth of the country with the recent visit of Fernando A. Gonzalez, chief executive officer of CEMEX and his executive team in the country, highlighted by a meeting with President Benigno S. Aquino III.

“We see a positive outlook in the business environment and we are committed to be a reliable cement supplier, given the growing need for high quality building materials required for public infrastructure, commercial projects, and housing,” Gonzalez said.

More investments

Earlier this May, CEMEX Philippines officially inaugurated the completed capacity expansion in its Apo plant in Cebu, the largest cement plant in the country, as well as a network of logistics centers in Visayas and Mindanao. (READ: CEMEX opens P3B cement mill in Cebu)

The inauguration of the new facility coincided with the Labor Day celebration, and attended by Aquino and several Cabinet officials.

The $80-million investment increased CEMEX’s cement production capacity in its Apo plant by 40%, and helped improve distribution capabilities with additional terminals in Iloilo and Davao.

CEMEX Asia president Joaquin Estrada said the company is preparing its facilities for the increasing demand in the Philippines.

“We endeavor to be a partner of the Philippine government and the business community in ensuring growth and progress,” Estrada said.

CEMEX Philippines also set up heat-to-energy power plant worth $18.6 million. The plant will capture the excess heat in one of its cement production facilities to produce usable electricity.

CEMEX Philippines is already using alternative fuels such as rice husk and refuse-derived fuel (RDF) as part of its fuel mix to minimize energy costs.

CEMEX Philippines president Pedro Palomino remains optimistic with all these developments within the company.

“We’re definitely here for the long run and we remain committed to helping build a better future for the Philippines,” Palomino said.

CEMEX is a global building materials company and has presence in more than 50 countries. – Rappler.com