Holcim secures BOI nod to build Bulacan plant

March 28, 2019 admin At a Glance

Credit to Author: ANGELICA BALLESTEROS, TMT| Date: Thu, 28 Mar 2019 16:22:47 +0000

THE Board of Investments (BoI) has allowed Holcim Philippines Inc. to establish a new manufacturing plant in Bulacan province. In a disclosure on Thursday, the listed cement producer said the new facility, the Bulacan Line 3, would be capable of producing 2.5 million metric tons (MT) of cement annually. This will help it achieve its target increase in production of 30 percent, it added. The BoI’s approval also granted the company certain tax incentives provided in Executive Order 226. Holcim recently embarked on a $300-million expansion program in a bid to produce 13 million MT of cement annually starting in 2020. For 2019 alone, the firm’s capacity will increase by another 1.8 million MT after completing improvements in its plant in La Union province. It is also improving its facilities in Bataan and Misamis Oriental provinces. Holcim shares added 16 centavos or 1.59 percent to close at P10.20 apiece on Thursday.

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