The Board of Investments approved a third line at Eagle Cement’s plant in Bulacan. The new line would add 2 million tpy to the plant’s existing 5.2 million tpy capacity for a price of PHP6.5 billion (around US$127.3 million).
South Western Cement Corp. (SWCC), a wholly-owned subsidiary of Eagle Cement, was also approved as a new producer of cement. The company is planning a PHP12.5 billion (around US$244.9 million) 2 million tpy cement plant in Cebu.
The SWCC plant is located in a so-called less-developed area. Approval of the project by the BOI enables the project to receive a six-year income tax holiday, as well as an additional deduction from taxable income equivalent to the cost of development of infrastructure facilities.
