After acquiring cement firm Cemex Holdings Philippines Inc., DMCI Holdings Inc. is eyeing more acquisitions in the next two to three years.
At the company’s shareholders meeting Tuesday, Isidro Consunji, DMCI chairman, said the company is looking at a “large mining asset” with potential for copper and gold deposit, while also scouting an additional coal mine in Mindanao.
Consunji, however, said that remains a prospect with DMCI more focused on growing its current businesses.
The group is looking at the synergetic effect of its latest acquisition Cemex with its construction arm DM Consunji Inc. by providing new markets for cement, and Semirara Mining and Power Corp. “to sell coal to both cement plants and fly ash to cement plants,” Consunji said.
DM Consunji has a strong competitive position in the mega infrastructure project business, enabling it to compete for more projects under the government’s infrastructure spending plans, he added.
DMCI is also set to further improve its off-grid power business as it expects to provide a total of 40 megawatts (MW) in the various islands its unit DMCI Power serves.
DMCI operates a 2 x 8 MW plant in Palawan and 8 MW bunker-fired plant in Masbate.
Consunji said DMCI Power also expects a partial shift to renewable energy, with a 4 MW solar project in Masbate and a 12 MW wind power in Semirara Island to displace diesel in the works.
Meanwhile, DMCI is still working to address the challenges in unit DMCI Homes, which is currently using up excess supply of finished units.
“DMCI sales are going to be slightly below pre-pandemic level. But they expect that by 2025 with the leisure projects and other upper and lower market segments, DMCI Homes will exceed pre-pandemic level of sales,” Consunji said.
The group hopes to secure permits of its nickel projects before the end of the year.
“Hopefully, two areas in particular, one in Zambales and one in Brooke’s Point, Palawan, should be operational before the end of this year,” he said.
