The Bulacan plant currently has capacity of 5.2 million tpy. The new line would add 2 million tpy to that, bringing total capacity to 7.1 million tpy. The plant only began operations in 2010 and has already added a second to keep up with an increase in demand.
“The construction of the third line is already fully funded,” the company told reporters on a recent plant tour.
The company also said it was looking to construct a smaller plant in Cebu by 4Q17 with a capacity of 2 million tpy. Funds for the project will be provided by an initial public offering of 11.5% of the company’s shares, planned for early May. The IPO aims to raise PHP9.2 billion (US$183.3 million).
