DMCI Holdings Inc., a
construction business, is putting up a cement plant on Semirara Island in the
Visayas worth P18.3 billion in an industry dominated by foreign manufacturers.
According to DMCI
managing director, Victor Limlingan, the company is spending a total of $380
million (about P18.3 billion) for the cement-manufacturing venture, building a
cement plant each with 15-megawatt capacity and three separate grinding
facilities located in Batangas, Iloilo and Zamboanga, three areas that can
cover the entire Philippine market.
He said that they have
the advantage of the limestone that will be coming from Semirara Island. “The
limestone is an overcrop that before we can get to the coal, we have to get
through the limestone. Before, when you remove the overcrop, it’s a cost. This
one is a revenue,”
The other advantage,
Limlingan said, is that they are the only cement company which will be beside
the sea. Most of the cement plants are in the mountains. “We are strategically
located in the Visayas. We can distribute to all over the Philippines. We can
even distribute to the Asean countries,” Limlingan said during Regina Capital
and Development Corp.’s forum.
The company is
targeting to start the operations of its grinding plants in two years and its
key cement plant, in three years. Limlingan said 70 percent of the project cost
of about $266 million (P13.239 billion) will be funded by debt and the rest of
the $114 million (P5.674 billion) will be by equity.
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