San Miguel investing almost US$1 billion in cement
Published by Joseph Green,
Editor
World Cement,
Philippine conglomerate San Miguel Corp has announced that it is increasing investment in cement manufacturing to almost US$1 billion with the addition of three new cement plants instead of the two previously announced facilities.
President Ramon Ang proposed the increased investment at a meeting following the listing of San Miguel's 33.5 billion pesos (US$720 million) worth of newly issued preferred shares.
Ang announced in July that San Miguel was building two cement plants, worth US$800 million, predicted for completion in 2017.
In 2008, San Miguel began an aggressive expansion to add power, mining, telecommunications, oil refining and infrastructure to its stable of food, beverage and beer businesses.
Edited from source by Joseph Green. Source: Reuters Africa
Read the article online at: https://www.worldcement.com/asia-pacific-rim/21092015/san-miguel-investing-billion-cement-626/
You might also like
World Cement Podcast
In the latest episode of the World Cement Podcast, Senior Editor David Bizley is joined by Dr Andrew Minson of the GCCA to discuss the ins and outs of the recently launched Low Carbon Ratings (LCR) system.
Responsible Capacity Growth, Powered by Your Data
As demand rises with urbanisation, manufacturers must meet growth targets while advancing 2030 and 2050 decarbonisation goals. AI Optimisation (AIO) technology is empowering teams with AI expertise to transform operations and accelerate their journey toward a smarter, more sustainable future.
