A Thai fiber cement manufacturer is planning to invest P2.9 billion in the Philippines for the production of fiber cement building materials for local and export markets.
President Marcos announced this following his meeting with the manufacturing firm—SHERA Public Company Ltd top executives—in Vientiane, Laos on the sidelines of the 44th and 45th ASEAN Summit and Related Summits.
“For the Philippines, of course we are very interested in this because of import substitution that it will provide. And hopefully, if things go well, you can use the Philippines as a center hub for export to wherever else other markets that you might want to enter,” Marcos said during a meeting.
The President commended the company for being ahead of the curb for incorporating the environmental aspect of their planned operation, saying this “has become more and more important.”
“You started earlier and now you have products that I don’t think I’ve seen anywhere else that can claim that kind of green credibility that your products have, including the power that you use is also well,” the President said.
“You can build a whole house with it already. Because I saw the wall application, the roof application, every floor, et cetera. That’s remarkable,” he added.
According to Marcos, SHERA will build its plant inside TECO Industrial Park in Mabalacat City, Pampanga, which is expected to commence operations by the first quarter of 2025.
The project will serve as SHERA’s first overseas operations in the Philippines that could employ 120 to 150 full-time workers.
The President expects the company’s Philippine operation to boost government efforts to address the current housing backlog with its ready-to-build housing materials.
Aside from manufacturing products for the Philippines, the Mabalacat facility will also export to Taiwan, South Korea, and parts of North Asia and Oceania.
Established in Thailand in 1974, SHERA is a leading manufacturer of unique and environmentally friendly fiber cement products such as fiber cement boards, panels, sidings, and various wood substitute products, offering unmatched stability, strength, and weather resilience.
The 3,000-strong company is the largest fiber cement innovator in Southeast Asia and globally recognized in more than 40 countries.
SHERA has an annual production capacity of one million metric tons and a distribution network spanning over 15,000 points across Southeast Asia and India.