New power supply agreement promises reduced costs for Cemex Holdings Philippines

Cemex Holdings Philippines (CHP) announced on Monday, 15 July that its subsidiary, Apo Cement Corp, has signed a supply contract with Semirara Calaca Reserve Corp to provide 44MW of electricity for Apo’s cement plant in Naga, Cebu.

Led by Isidro A Consunji, DMCI Holdings Inc bought CHP earlier this year for US$305.6m, looking to turn a profit after a PHP2bn (US$34.24m) loss in 2023.

CHP subsidiaries Apo Cement and Solid Cement agreed for the assignment of trademarks with Cemex Innovation Holding Ltd for US$8.2m and US$4.35m, respectively. CHP shares remained unchanged on Monday at PHP1.40 (US$0.02) during a 0.62 per cent increase for the Philippine Stock Exchange Index.