New Cebu hub to boost cement supply in PH by 3M tons yearly
The Philippine unit of Japan-based firm Taiheiyo Cement inaugurated a P12.8-billion new production plant in Cebu, helping the country reduce reliance on imported cement.
“Taiheiyo’s new plant in San Fernando, Cebu will bolster the Philippines’ cement production by 3 million tons annually, reducing our reliance on imports,” Trade Secretary Alfredo Pascual said in a statement on Friday.
“This investment aligns perfectly with our government’s ‘Build Better More’ infrastructure program,” he added.
The Department of Trade and Industry (DTI) said the new facility of Taiheiyo Cement Philippines Inc. (TCPI) features an advanced kiln renewal technology that reduces carbon dioxide emissions by at least 10 percent through decreased energy consumption and a lower clinker factor.
“We commend TCPI for setting a new standard for environmentally responsible manufacturing in the cement industry. This advanced technology is set to reduce carbon dioxide emissions significantly,” Pascual said.
According to the DTI, TCPI has invested significantly in related projects, including P3.1 billion for its jetty and marine belt conveyor project, another P1.4 billion for its port area and P 3.7 billion for its Luzon distribution terminal project.Growth catalysts
The government agency also highlighted Japan as a major catalyst for economic growth, with the East Asian country having provided over $13 billion in grants and low-interest loans through its official development assistance program.“Japan is a vital partner to the Philippines. It is our second-largest trading partner and third-largest source of foreign investment,” Pascual said.
The inauguration of Taiheiyo’s advanced manufacturing facility is also seen to highlight the Philippine government’s commitment to sustainable development and industrial growth.
“To sustain this momentum, our country is committed to improving our business environment by enhancing the ease of doing business. We are streamlining and digitalizing institutional and regulatory requirements to improve speed and overall ease of doing business, especially for strategic investments,” said Pascual. —Alden M. Monzon INQ
