Makati—(PHStocks)—DMCI Holdings Inc. (PSE: DMC) Chairman and President Isidro A. Consunji confirmed in a media interview that the DMCI group is planning to put up cement production facilities in strategic areas in the Philippines to serve the cement supply requirements of its construction and real estate companies, as well as the projected increase in infrastructure activities in the country.
DMCI Holdings believes that cement manufacturing will be a good, strategic addition to its business portfolio as it integrates and makes significant use of the DMCI group’s expertise and resources.
Internally generated cash and local borrowings will be used to develop the cement business which is estimated to cost around $340 million.
Once completed, the facilities will have a combined production capacity of 5,000 metric tons per day.
DMCI Holdings is undertaking the necessary feasibility and technical design studies for the cement business.
Further details will be disclosed as they become final.