Philippine-based AbaCore Capital Holdings Inc has announced a plan to invest up to PHP102m (US$1.9m) in Premiere-Slag International Inc to build and operate a cement plant.
In a disclosure on Monday, the holding company said the investment translated to a maximum of a 10 per cent stake in Premiere-Slag, which "will operate a production facility to process and sell cement, or cement mixed with components."
The unit is expected to be constructed on a 30,117m2 site in Mabini town, Batangas province, which will be sold by Omnilines Energy International Network, an AbaCore subsidiary, to Premiere-Slag for PHP225.88m. Therefore, resulting in a net gain of around PHP200m for Omnilines, according to The Manila Times.
