PHILCEMENT Corporation held its groundbreaking ceremony for its second manufacturing plant at the DICT Bulk Terminal Inc. on Jan 24 at Panabo City, Davao del Norte.
In an interview with Eduardo Sahagun, president and CEO of Philcement Corporation, he shared that the facility costs nearly P3 billion and the target completion date will be in July 2026.
In partnership with the Anflo Management and Investment Corporation (ANFLOCOR) and Davao International Container Terminal, Inc. (DICT), the new state-of-the-art facility is capable of producing 2 million tons of cement per year that will meet the growing demand for high-quality cement in Mindanao.
The facility will help address the infrastructure needs, drive economic progress, and strengthen the development of Mindanao.
It also ensures efficient handling of cement shipments to support Davao Region’s infrastructure development and economic growth.
Last Jan 2024, Philcement Corporation signed a Manufacturing and Sale Agreement with Petra Cement, Inc. that enabled Philcement to operate the Petra Plant, located in Zamboanga del Norte, to produce and distribute cement in Northern Mindanao.
In May 2024, the two companies also signed a share purchase agreement to acquire Petra Cement, Inc. for P500 million.
