San Miguel Corp (SMC) said its affiliate Southern Concrete Industries Corp may look to double the manufacturing capacity of its new Davao cement plant.
Southern Concrete Industries Corp, formerly Oro Cemento Industries Corp, is considering doubling its manufacturing capacity to 100m bags per year, it said in a disclosure to the stock exchange.
SMC president and CEO, Ramon Ang, earlier said the increase in manufacturing capacity of Southern Concrete "will reduce the dependence and reliance on imported cement and at the same time, support infrastructure development in the Mindanao region."
The unit is also preparing an expansion plan for the construction of an additional grinding plant, SMC said.
In January the company announced that the Fiscal Incentives Review Board has approved tax incentives for its PHP10bn (US$195.1m) cement manufacturing project in Davao Del Sur.
