BOI seeks further industry investments

BOI seeks further industry investments
21 June 2017

The Philippine Board of Investments (BOI) is seeking investment in the cement sector as it expects demand to hit 40Mta by 2020 due to a peak in government infrastructure spending.

To prevent a supply shortfall, the Department of Trade and Industry (DTI)  is starting preparation to ensure that construction materials are sufficient to support the government’s massive “Build, Build, Build” programme and the PHP10bn reconstruction budget for Marawi City.

Last year, domestic cement consumption increased by 6.6 per cent to 26Mt, with domestic capacity for the year amounting to just over 34Mta.

The DTI Undersecretary for industry promotions group Ceferino S Rodolfo confirmed that two companies are preparing to build new integrated plants, according to the Manila Bulletin newspaper. Mr Rodolfo said both companies are obtaining permits for their projects without revealing their identities.

Published under Cement News