Skip to main content

San Miguel investing almost US$1 billion in cement

Published by
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

Optimisation 2019

Optimisation 2019

Optimisation 2019 is an online conference for professionals in the cement sector. Since this is a completely virtual conference, you can join us from anywhere in the world, absolutely free. Register for free today »

 

Solar plant online for Bharathi Cement

Bharathi Cement has recently commissioned a 10 MW ground-mounted solar power plant at its manufacturing facility in Kadapa, Andhra Pradesh.

 
 

Embed article link: (copy the HTML code below):