Lafarge set to buy property in Manila Harbour, Philippines

According to local press, Lafarge Republic Inc. is set to purchase a property in Manila Harbour, Philippines, which it currently leases. The company is hoping the investment will improve the distribution of cement in the country. Furthermore, the company is planning to purchase the cement silo and packhouse, amongst other things, on the industrial park at the port of Manila. Terms and conditions of this are yet to be agreed by management.

Lafarge reportedly told the Philippine Stock Exchange that the strategic location of the property will not only facilitate the company’s cement dispatches but it will also provide an accessible pick-up point for cement purchases from Metropolitan Manila.

The purchase will come as part of the company’s efforts to expand operations in the region. Lafarge is currently building a PHP2 billion cement grinding mill at its plant in nearby Teresa, where the company has recently inaugurated a refuse-derived fuel (RDF) facility, which will convert municipal solid waste into energy. The plant has a current capacity of 6 million tpa and the new mill will add 850 000 tpa to the plant’s production capacity by 1Q15.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/20122013/lafarge_set_to_buy_property_in_manila_harbour_philippines_535/