Global Ferronickel Holdings Inc. (FNI) plans to diversify into the manufacture of cement to add to the existing nickel and ports businesses.
“FNI plans to diversify its operations by venturing into cement manufacturing. This involves the production of limestone, clinker and other key materials used in the cement industry. This enables the company to tap into the construction and infrastructure sectors which offers significant growth potential,” said Dante Bravo, FNI president, at yesterday’s stockholders’ meeting.
Bravo said FNI is open to the possibility of putting up processing facilities in addition to expanding the resource base.
“This includes the establishment of a ferronickel processing plant and nickel matte processing facility. These processing capabilities enable the company to enhance the value of its nickel products by transforming them into higher grade materials that cater to specific industry needs,” Bravo said.
FNI is also eyeing to establish a battery-grade nickel plant and a steel plant to take advantage of current opportunities in the renewable energy and electric vehicle sectors.
Bravo added FNI plans to expand its logistics business in Mariveles, Bataan including the development of warehousing facilities and container terminal services to improve efficiency as well as reduce costs.
Last March, FNI acquired an 88 percent stake in Mariveles Harbor Corp. for P192 million. The company also acquired majority control of Seasia Nectar Port Services Inc. for an estimated cost of P192 million.
Both companies are based in Bataan where FNI’s planned rebar steel rolling plant is being eyed for development.
