CEMEX to Invest for $65 Million USD Cement Production Capacity Expansion in Philippines

CEMEX, a Mexican building materials company offering superior quality products and reliable service all across the world, has reported that it will invest roughly $65 million to increase its cement production capacity in the Philippines and reinforce its distribution network in order to provide better services in high-demand regions across the country.

Through this investment, CEMEX will increase its APO facility's annual cement production capacity by 1.5 million metric tons. The capacity expansion is slated for operation by Q1 of fiscal 2014.

This new investment enables CEMEX to maintain pace with the rapidly growing Philippines market. The National Statistical Coordination Board reported that the country recorded 6.1% growth in gross domestic product during the first half of fiscal 2012. The Metropolitan Manila Development Authority has started several infrastructure projects as the nation recuperates from damage created by adverse weather conditions.

Worldwide, CEMEX is continuously adapting its operations to maintain pace with swiftly changing market scenario. In up-and-coming economies such as the Philippines, the building materials company is making investments to exploit the ever-increasing requirement for building materials.

CEMEX's Country President in the Philippines, Pedro Palomino stated that infrastructure development is one of the imperative needs of the country and hence, it has to be given top priority. The company is happy to play a role in the development of the Philippines and wants to serve as a long-term partner on its efforts towards a prosperous, sustainable future.

Source: http://www.cemex.com/

Share on Google Plus

About Webber

I am among of the writers and administrators of this web site. I always on the heads up when it comes to Sports, Politics, Economy, Business, Physics, Mathematics, Technology, computers and NEWS all over the world that triggers ny eyes and interests. I am working as a volunteer with other 14 administrators, researchers, writers and contributors. We are a strong solid team. Join us and be among of the contributor with your name on each posted article.

    Anonymous or Google Comment
    Facebook Comment

YOU MAY LIKE TO READ

LEARN FOREX TRADING AND GET RICH

Investment Recommendation: Bitcoin Investments

Live trading with Bitcoin through ETORO Trading platform would allow you to grow your $100 to $1,000 Dollars or more in just a day. Just learn how to trade and enjoy the windfall of profits. Take note, Bitcoin is more expensive than Gold now.


Where to buy Bitcoins?

For Philippine customers: You could buy Bitcoin Online at Coins.ph
For outside the Philippines customers  may buy Bitcoins online at Coinbase.com