Eagle Cement Corp will pursue expansion plans

Eagle Cement Corp will pursue expansion plans
21 July 2020

Eagle Cement Corp will pursue its expansion plans despite the impact of the coronavirus pandemic.

Expansion-related capital expenditures will continue while spending for non-critical projects and activities "will be trimmed," said Eagle president and CEO, Paul Ang.

"Our strong financial position will allow us to weather this health crisis battering the economy without giving up major components of our expansion plans, which will secure our future growth," Mr Ang said.

For this year, Eagle earmarked some PHP1.5bn (US$30.37m) in capital expenditures for the construction of its fifth cement mill in San Ildefonso, Bulacan. The new mill will add 1.5Mt of cement output, pushing the firm's total capacity to 8.6Mta by the end of 2020.

Published under Cement News