BOI okays CEMEX subsidiary as new cement producer

Published April 14, 2019, 12:00 AM

by manilabulletin_admin

Solid Cement Corp., a wholly-owned subsidiary of CEMEX Holdings Philippines and operator of the Antipolo cement factory, has recently obtained from the Board of Investments (BOI) “pioneer” status as a new producer of cement in Antipolo.

In a statement, Solid Cement said it is investing $235 million for its cement plant in Antipolo, which will generate a new capacity of up to 3.4 MMT from the current 1.9 MMT by 2020. It engaged China’s CBMI Construction Co., Ltd. for the engineering, procurement and construction of the project.

As a BOI-registered project, Solid Cement is entitled to income tax holiday and duty-free importation of capital equipment. The company will build a new and independent production line to jack up its total capacity to 3.4 million metric tons each year.

It currently has a capacity of 1.9 million metric tons and serves the markets of southern Luzon and the National Capital Region. It produces products that carry the Island and Rizal Cement brands.

“Securing BOI approval signifies that we are on the right track as an investor supporting Philippine growth. We are looking forward to delivering a steady supply of building materials for customers even as we continuously work towards being a partner for nation-building,” said Ignacio “Nacho” Mijares, President and CEO of CEMEX Holdings Philippines.

With more than two decades in the country, CEMEX has contributed to the advancement of the construction industry through capacity innovations. The creation of a new production line in Antipolo is one of the initiatives that CEMEX has set to allow for more efficient production and supply delivery, particularly for projects at the National Capital Region and South Luzon.

“This will allow us to further serve the cement requirements of the country during this important period heralded as the Philippines’ golden age of infrastructure,” added Mijares, pertaining to the company’s support for the government’s “Build, Build, Build” agenda. (BCM)