Manila, September 27 (Engineering Daily) -- The domestic cement industry has been profitable with the government's "Build, Build, Build" program.
Republic Cement President Nabil Francis said the demand for cement this year is expected to grow 8 percent on the back of the government's strong infrastructure spending, coupled with developments from the private sector.
The President continued, "It is definite the cement market in Philippines is vitalized because we are simply following the current market pace. I assume that we start to see the effect of the 'Build, Build, Build,' program.” with the reporters over the weekend.
Last year, the company announced a USD300-million expansion plan to increase its production capacity to keep up with the robust demand in the domestic market.
The cement consumption follows the demand.
The Republic Cement, an Aboitiz company, divides its business into three segments: residential, non-residential, and infrastructure. About 30 percent of the cement consumption came from the infrastructure segment, Francis said.
He added the cement consumption growth from the infrastructure industry seems to grow by 13 percent this year and furthermore to boost Republic Cement’s manufacturing business. The residential segment is also growing in steady state at 5 percent along with the growth.
