Taiheiyo Cement Corp Invests in PH
For the construction of a new and modern production line in Cebu, Taiheiyo Cement Corporation of Japan is investing P15 billion into the country. This line will increase its capacity by 50 per cent in the immediate term.
The Taiheiyo Cement Group in Tokyo, Japan has various businesses from finance, transportation., engineering, construction materials, real estate, warehousing, sports, and chemicals.
According to Trade and Industry Ramon M. Lopez, the Japanese company has already expressed its intention in constructing a new production line that will employ new technologies from Europe and other global providers. He added that the expansion seeks to grow the cement capacity of TCPI by 50 per cent in the immediate term and 150 per cent in the medium term. The improved capacity is expected to increase the Philippine market share of Taiheiyo from 7 to 10 per cent. The project also follows green economy requirements through the introduction of energy-efficient operations, which can reduce by 10 per cent carbon dioxide emissions from energy use in clinker production from the old line’s energy efficiency rates.
Meanwhile, Trade Undersecretary Ceferino Rodolfo said that the DTI-Board of Investments (BOI) will review the new technologies of the project for incentive eligibility. He also added that the BOI is ready to offer investment facilitation services through its standing cooperation with agencies in charge of the issuance of significant licenses and permits.
Lopez also said that there are several infrastructure projects in the pipeline for Talheiyo to serve the growing demand for commercial, housing and infrastructure development.
This agreement was part of the Letter of Intent (LOI) that President Rodrigo Duterte signed in Tokyo in 2017. The LOI pledged to increase the production capacity of Taiheiyo, including shipping bases out of Cebu to areas in Iloilo, Luzon, and Davao, improving logistics and meeting environmental protection programs via the installation of a marine belt conveyor, expansion of the jetty and berth in San Fernando, Cebu, and the adaption of energy-efficient production processes.
In 2019, the Philippines imported $543.9 million worth of cement, an increase by an average of 213.8 per cent from 2015. With this data, the country is touted to be the third’s largest importer of cement, next to the US and China.