Bullish on Mindanao’s growth prospects, businessman Ramon S. Ang said he would begin construction of a cement plant in Davao City this year, through Eagle Cement Corp., to boost production and meet increasing demand from robust infrastructure activities in and outside of Manila.
A groundbreaking ceremony for the new facility is scheduled on Oct. 20.
Ang, who owns Eagle and is currently president and chief operating officer of San Miguel Corporation (SMC), said the construction of the cement plant is part of a plan he announced earlier this year for Eagle to help support the country’s growth while strengthening its position in the industry.
Eagle, he said, would spend $300 million for the new cement manufacturing plant capable of producing two million tons or 50 million bags per year.
Ang had identified Davao as a key growth area for the Philippines. In 2013, its power subsidiary San Miguel Global Power Holdings Inc. broke ground for a new power generation facility in Malita, Davao.
The new 300-megawatt power plant, which is part of a 2000-hectare PEZA-accredited industrial estate SMC is building in the province, is now fully online.
Davao is also home to SMC’s beer subsidiary San Miguel Brewery Inc.’s Davao Brewery.