Philcement Corp., a unit of conglomerate Phinma Corp., said it opened a $100-million state-of-the-art cement facility at the Freeport Area of Bataan in Mariveles, Bataan, marking its return to the cement industry.
Philcement said in a statement the cement plant and port in Mariveles was the first of its kind in the Philippines and potentially one of the largest in the world with an initial annual capacity of 2 million tons.
The facility, with automated equipment, will allow Philcement to serve the growing demand for high-quality cement of Filipino customers in an efficient manner.
“We are today telling the world that we are back in cement and, like when we first began over 60 years ago with a vision to help build the nation, we are back with that same burning desire to make it our business to help build the nation by playing a significant role in infrastructure development,” Phinma president and chief executive Ramon del Rosario Jr. said in a speech during the inauguration of the plant.
Phinma, founded in 1956 after the acquisition of the Cebu Portland Cement Company plant in Bacnotan, La Union, took over the management of cement plants in Bulacan, Rizal and Davao and expanded its stake in the industry with quality cement under the Union Cement brand.
Phinma said with the revival of the Union Cement legacy brand, it aimed to return to its position of prominence, helping provide a stable supply of high-quality cement.
Philcement president and chief executive Eduardo Sahagun said the Mariveles facility made Phinma extremely well-placed to take advantage of the growing regional opportunity.
“In Phinma, cement is what we know best. Looking at the opportunities from the construction business now, we should prepare to expand, not just in the Philippines, but also in the ASEAN region,” said Sahagun, a veteran in the local cement industry.
The Phinma group exited the cement business in 2004 when it sold its majority interest in Union Cement Holdings Corp. to Holcim Philippines Inc.
Phinma is a holding company with investments in the education, steel products, housing, business process outsourcing and energy sectors.