Japanese firm Taiheiyo Cement Corp. is spending 10 billion yen (around P4 billion) on a new cement distribution terminal in Batangas to expand its capacity to Luzon.
The company through its local subsidiary Cebu-based Taiheiyo Cement Philippines Inc. (TCPI) will add 700,000 tons of cement annually via the new terminal.
TCPI targets an annual sales volume of 5 million tons and a sales share of 10 percent in the next decade.
Taiheiyo Cement’s expansion was one of the business agreements signed during the visit of President Ferdinand Marcos Jr. in Tokyo last February.
TCPI also conveyed its interest to upgrade its main facility in San Fernando, Cebu, via a kiln renewal plant designed to increase current production capacity to 3 million tons per year. The company is also planning the reinforcement of the port area of their San Fernando plant.
Taiheiyo’s investments under the letters of intent are expected to generate 2,000 new jobs.
T aiheiyo Cement was founded in Japan in 1881 and now has consolidated net sales of JPY 809.5 billion and 1,841 employees. In the Philippines.
