Taiheiyo to build new terminal in Philippines
Japan-based Taiheiyo Cement Corp (TCC) will build a new cement terminal in Calaca, Batangas, Philippines, to enable the company to serve the Luzon market from its pant in San Fernando, Cebu.
Taiheiyo Cement Philippines Inc (TCPI) will build and operate the planned hub to distribute its Grand-branded cement products, according to TCC President and Representative Director, Masafumi Fushihara.
The 0.7Mta project is the next step in serving a market that TCPI has estimated to have increased by approximately 30 per cent between 2015-19, reaching 32Mt, said the company. For 2023 demand is forecast to increase by 5.6 per cent YoY as a strong recovery in the country’s GDP is expected. Moreover, the “Build Better More” programme of the Marcos administration is also anticipate to see an upswing in infrastructure construction.
The company plans to transport and sell blended cement, for which demand has been increasing in recent years, based on Taiheiyo’s strategy to reduce CO2 emissions per unit of production. TCPI targets sales of 5Mta and a market share of 10 per cent by 2030.
In addition, TCPI is considering strengthening its marine logistics system with an eye on the future of TCC’s business in the Philippines and expect a total investment of approximately JPY10bn (US$68.7m).
The company is also upgrading its cement production line at present. After the start of commercial operation in May 2024, the project will see TCPI’s production capacity increase to 3Mta.
