Solid Cement Corp. (SCC) has obtained tax holidays from the Board of Investment for expanding production of its cement plant in Antipolo, Rizal.
SCC, a wholly-owned subsidiary of Cemex Holdings Philippines Inc., will increase its capacity by 1.5 million metric tons to 3.4 MT annually.
The income tax holiday is good for four years but upgradable to six years once SCC uses a new technology that will reclassify its operation as a pioneer investment.
An investment is classified “pioneer” if the business activity involves manufacturing or processing and not merely assembly or packaging of goods or raw materials that have not been produced in the Philippines on a commercial scale.
The “pioneer” classification also refers to projects using a design, formula, scheme, method, process or system of production or transformation of any element or raw material or finished good which is new and untried.
SCC is investing $75 million to construct and install the new production line in its Antipolo plant.