“This year we plan to ramp up domestic production and lessen out requirements for imported cement,” said CHP President and CEO, Pedro Palomino, at a shareholder meeting.
The Philippine government is planning to increase investment in infrastructure to 7.4% of GDP in coming years. This year, planned spending will total PHP860.7 billion (around US$17.4 billion), or 5.4% of GDP.
“We are fully supportive of the ‘Build, Build, Build’ programme of President [Redrigo] Duterte,” said Chito Mañiago, Director for Corporate Communications and Public Affairs at CHP told reporters. “In fact, we have presented several building solutions to several cabinet secretaries.”
Mañiago also noted that the company had already signed an agreement with Chinese engineering company, CBMI Construction, to begin work on the Solid Cement expansion.
The project will see the construction of a new integrated production line with a capacity of 1.5 million tpy. It is scheduled for completion in 2019 and will bring CHP’s total capacity to around 6.9 million tpy.
“The Solid expansion bodes well for the infrastructure plant of the government,” continued Mañiago. “It’s really to support the government’s project.”
