Solid Cement Corp., a wholly-owned unit of CEMEX Holdings Philippines Inc. and operator of the Antipolo cement factory, recently obtained a ‘pioneer’ status from the Board of Investments as a new producer of cement in the city.
The status entitles the company to certain fiscal incentives and tax holidays and allows it to build a new and independent production line while boosting the total capacity to 3.4 million metric tons a year.
Solid Cement, which currently has a capacity of 1.9 million metric tons, serves the markets of southern Luzon and the National Capital Region. It produces products that carry the Island and Rizal Cement brands.
“Securing BoI approval signifies that we are on the right track as an investor supporting Philippine growth. We are looking forward to delivering a steady supply of building materials for customers even as we continuously work towards being a partner for nation-building,” said CEMEX president and chief executive officer Ignacio Mijares.
The company is investing $235 million for the cement plant in Antipolo that will generate a new capacity of up to 3.4 million MT by 2020 from the current 1.9 million MT. It tapped China’s CBMI Construction Co. Ltd. for the engineering, procurement and construction of the project.
With more than two decades in the country, CEMEX has contributed to the advancement of the construction industry through capacity innovations. The creation of a new production line in Antipolo is one of the initiatives that CEMEX has set to allow for more efficient production and supply delivery, especially for projects at the National Capital Region and South Luzon.
“This will allow us to further serve the cement requirements of the country during this important period heralded as the Philippines’ golden age of infrastructure,” added Mijares, referring to the company’s support for the government’s “Build, Build, Build” agenda.
The BoI approval also strengthened CEMEX’s foothold as a leading cement manufacturer.
“We always utilize opportunities to increase productivity and reduce unitary distribution costs. The tax exemption will enable us to improve our prices and have better profit margin,” said CEMEX tax director Adrian Bancoro.