Trade Secretary Alfredo Pascual on Monday revealed three Japanese firms are realizing their pledged investments into the country, worth P22.3 billion in total.
Pascual, among other government officials, visited Tokyo last week to entice more foreign direct investments.
The sure investments mentioned by Pascual during a briefing on Monday were Taiheiyo Cement with P11.7 billion.
Taiheyo will be unveiling its latest Cebu manufacturing plant which will be inaugurated on 18 July as part of the P21 billion pledged by the company to President Ferdinand “Bongbong” Marcos Jr.
Taiheiyo Cement Philippines Inc., a subsidiary of Taiheiyo Cement Corporation, has a long history in the Philippines, with a cement plant in San Fernando, Cebu.
The company is actively involved in supporting the Philippines’ infrastructure development through high-quality cement production.
Taiheiyo Cement Philippines Inc.’s planned expansion includes constructing a new cement distribution terminal in Calaca, Batangas, and upgrading its San Fernando plant to increase production capacity and reduce carbon dioxide (CO2) emissions.
Stable, high-quality supply
This new project will ensure a stable supply of high-quality cement to Luzon and Visayas, and introduce state-of-the-art production technology that will facilitate waste recycling, consistent with the department’s advocacy of fostering sustainable and inclusive development through clean technology and innovation.