The company will increase its grinding capacity and by the year end will commission two new finish mills which will give an output of over 50 million bags.
Philippines’ construction material provider, Republic Cement Services Inc. has recently announced that its two finishing mills with valued investments of $40 million will commence operation by end of 2019 adding 2 million metric tons (MMT) to its current 7 MMT production capacity.
According to GMA Network, Nabil Francis, President, Republic Cement, confirmed that the company plans to enhance its operations with two more finish mills likely to be commissioned before the end of 2019. He said that Republic Cement is also increasing its output and many of the new equipment in 2019. Francis added that the company will increase its grinding capacity and by the year end will commission two new finish mills which will give an output of over 50 million bags.
As per a statement, the company said that its planned $250 million to $300 million investment will efficiently boost its annual domestic production capacity.
Commenting on the government’s imposition of a temporary safeguard measure of P8.40/ 40kg bag of imported cement, Francis said that the company supports the move which will in turn assist local industry and encourage added investments from local producers that eventually creates new jobs.
He said that a greenfield cement facility may need massive investment of around P10 billion and tax payments that reach up to P1 billion along with up to 6,000 new job vacancies.
Francis also assured against shortage of cement in the local market despite higher demands amid strong obligation of cement safeguards by the Philippine Department of Trade and Industry (DTI) to regulate the surges in cement imports.
He said that there is ample supply of clinker in the Philippines thanks to the rich resources of the country, however, the country is open to import if the local supply is insufficient. He added that clinker is produced locally and in case of shortage can be imported.