Republic Cement forecasts recovery for next year

Republic Cement forecasts recovery for next year
06 November 2020

Nabil Francis, president and chief executive officer of Philippine-based Republic Cement, expects the country’s cement market to decline by 15 per cent YoY this year, before bouncing back in 2021.

"In 2021, we will get back to 35Mt for the total market, which is more or less the level that we reached in 2019," said the CEO at an Aboitiz virtual media briefing.

"Definitely, it's going to be boosted by the ambitious infrastructure programme – the 'Build, Build, Build' programme of the government," added Mr Francis.

Republic Cement is adding 2.3Mta this year to boost its production capacity to 9.7Mta, after the mills in Bulacan and Iligan go online.

However, Mr Francis also recognised the threat of imported cement. "It's high time to be patriotic and to buy locally-manufactured products in order to help speed up the recovery," he said. "We are fully supporting the 'Buy Local' campaign initiated by DTI (Department of Trade and Industry)."

Published under Cement News