Lafarge Republic is set to purchase a property it currently leases in Manila’s port area to improve the sale and distribution of its products.
The cement producer will also purchase the cement silo, packing house, among other things, at the Manila Harbour Center, it said in a filing to the Philippine Stock Exchange.
“The purchase will give the company full control of the facility, which is currently using under lease agreement,” Lafarge said.
"The strategic location of the facility facilitates the company's dispatch of its products and gives its Metro Manila customers a more accessible pick-up point for its cement purchases," the company added.
The country's second-largest cement producer by capacity, Lafarge Republic is also gearing up to meet future domestic demand requirements through the construction of a new grinding plant at its Teresa plant in Rizal near Manila. Fives FCB of France was awarded the contract for the project last month, which will increase cement capacity at the Teresa works by 850,000tpa upon completion in 2015.