Taiheiyo Cement Corp. of Japan is investing P15 billion in a new production line in Cebu, the Department of Trade and Industry (DTI) said in a statement.
Subsidiary Taiheiyo Cement Philippines Inc. (TCPI) will increase its capacity by 50 percent in the immediate term and by 150 percent in the medium term and will boost share from 7 percent to 10 percent.
Taiheyo Cement currently has a capacity of three million tons (MT) a year. After expansion, the capacity will jump to 5 MT a year.
It currently has a manufacturing plant as well as mining and port operations in San Fernando, Cebu.
The DTI said the state-of-the-art facility will employ advanced technologies including energy-efficient technologies which will reduce by 10 percent carbon dioxide emissions from energy use in clinker production.
Headquartered in Odaiba, Tokyo, Taiheiyo Cement Group runs diverse businesses from cement, mineral resources, environmental, construction materials to real estate, engineering, data processing, finance, transportation, warehousing, chemicals, and sports.
The investment is part of the Letter of Intent (LOI) that DTI and Taiheiyo signed during President Duterte’s official working visit in Tokyo last October 2017.
Other investments in the LOI include the expansion of shipping bases out of Cebu to Luzon, Iloilo, and Davao.
The company also committed to enhance logistics and meet environmental protection programs through the installation of a two-kilometer marine belt conveyor, expansion of the berth and jetty in San Fernando, Cebu, and the adoption of energy-efficient production processes.
The Board of Investments will review the project’s new technologies for incentive eligibility. – Irma Isip
