A Chinese business conglomerate which has a good track record for environmental compliance here in China has committed itself to put up a US$ 275m cement plant in the Philippines, Trade Secretary Peter Favila said today.
Favila said the desire of the Fujian Longlin Group, Ltd to invest in the Philippines was relayed by its chairman, Yujian Xu, to President Gloria Macapagal-Arroyo when he called on the President this morning at the Jinshou Room of Asia Hotel here. Favila said once the proposal of Fujian pushes through, the US$100m cement manufacturing project is expected to bring down the price of cement in the Philippines.
Favila said he learned from Yujian Xu, chairman of the Fujian that the price of a bag of cement (in China) is about a little over a hundred pesos which certainly a lot cheaper than what being produced in the Philippines today. He said the President instructed him to study the environmental compliance record of the Fujian to make sure that the environment would be protected when they start their cement production here.
Favila noted that based on their extensive research they found that Fujian has a good track record for environmental compliance. Aside from the cement plant, the group also expressed its desire to put up a coal plant in the country.
A cement plant, iyon ang kanilang pino-propose and we said we would have to have another immediate player in the Philippines. This would bring about a healthier competition, he added. He said that during the meeting, Xu informed the President that they would send a team to look for a possible site for their cement plant in Antipolo City in Rizal province, as soon as possible.