Holcim Philippines Inc. is planning to raise capital expenditures to PHP2.2bn this year as it invests in raising plant efficiencies amid stronger demand.
In a briefing after the firm’s annual stockholders’ meeting Tuesday, Holcim chief operating officer Roland van Wijnen said that, in the past three years, they had been spending about PHP2bn each year.
However, the firm lowered capex last year because of the global crisis which dampened demand. But this year, Wijnen said they will try to bring it back to PHP2bn.
Holcim also plans to put in an additional P200m for this year’s capex which will be used for plant improvements.