Phinma to invest in PHP2bn Davao plant

Philippines-based Phinma Corp plans to invest approximately PHP2bn (US$34.7m) in a new cement plant in Davao to further consolidate its presence in the cement market.

"We’re putting up our Davao plant which is almost similar to Mariveles plant. That is in joint venture with some of our partners in Davao,” Philcement Corp President and CEO, Eduardo Sahagun, said.

“That will bring our total capacity to somewhere like 5Mta if all those things will be completed in a couple of years,” he added.

Philcement’s 2Mta Mariveles cement facility in the Freeport Area of Bataan, which was inaugurated in January 2020, is considered to be one of the largest independent cement terminals globally.