Plans to resume new Philippine plant project

APC Group Inc, an energy and mining holding firm affiliated with Belle Corp, plans to resume a US$200m project in Cebu, Philippines, as the government’s public-private partnership projects spur cement demand.

APC chairman and president Willy Ocier said during the company’s stockholders’ meeting on Wednesday that the revival of the cement plant project was among the company aims for 2012. In an interview with the Inquirer, Ocier said the cement plant would have a capacity of 1.5Mta and should start operating in about two years.

“Because of the PPP, we expect the government to spend more money for construction and civil works and also the supply situation has improved,” Ocier said.

For the first time since the 1997 Asian financial crisis, Ocier said demand for cement has recovered to 15-16Mta, or about the same level prior to the crisis. He said the revival of the cement plant project might be justified now.