Optimistic outlook for Philippine cement sector

Continued optimism

According to local reports, Cemex Philippines is optimistic that growth in the Philippine cement industry will continue throughout 2014. Paul Arcenas, Vice President for Strategic Planning at Cemex Philippines, told local press that the industry has witnessed 6 – 7% growth per year over the last three years and cement sales in 2013 rose by approximately 6% in 2013. The increase in industry performance was attributed to an increase in government spending and private sector infrastructure projects.

Due to a rise in construction activity and an increase in the Department of Public Works and Highways’ budget for infrastructure and housing programmes, as well as ongoing major reconstruction projects in the aftermath of Typhoon Haiyan, sustained growth is expected throughout 2014.

Arcenas further commented that Cemex is planning to allocate some US$80 million to finance the upgrade of its Naga plant, which will add around 1.5 million tpa capacity, and the expansion of terminals and distribution stations. This is expected to add around 40% to the company’s total production capacity.

Cemex assists in Typhoon Haiyan effort

Cemex Philippines will reportedly donate PHP25 million to help survivors of Typhoon Haiyan in four government units in northern Cebu. The funding will be invested in the construction of new houses and public infrastructure, such as schools and classrooms. The company will also provide vocational courses and masonry training to typhoon survivors in San Remigio.

As part of the Cemex Philippines Foundation’s Build Unity project, around 90 families in Daanbantayan town and Bogo City will be placed in new housing by August.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/05032014/optimistic_outlook_for_philippine_cement_sector_849/