As imported cement remains a threat to the local market, a Japanese company has infused P12.8 billion to produce cement in Cebu province.
Trade Secretary Alfredo Pascual personally inaugurated the launch of Taiheiyo Cement Philippines Inc. (TCPI)’s state-of-the-art plant in San Fernando, Cebu on Thursday.
Taiheiyo is said to have an annual production capacity of 3 million tons.
“Taiheiyo’s new plant in San Fernando, Cebu will bolster the Philippines’ cement production by 3 million tons annually, reducing our reliance on imports. This investment aligns perfectly with our government’s Build Better More infrastructure program,” according to Secretary Pascual.
The new plant features advanced kiln renewal technology that reduces carbon dioxide emissions by at least 10 percent through decreased energy consumption and a lower clinker factor, aligning with the country’s broader environmental goals.
“We commend TCPI for setting a new standard for environmentally responsible manufacturing in the cement industry. This advanced technology is set to reduce carbon dioxide emissions significantly. Taiheiyo’s San Fernando plant contributes to a greener future for our world,” Secretary Pascual added.
Big capital outlays
In addition to the new production line, Taiheiyo Cement has invested significantly in related projects, including the P3.1 billion Jetty and Marine Belt Conveyor project, P1.4 billion for the port area, and P 3.7 billion for the Luzon Distribution Terminal Project.
The said investments enhance bilateral trade and investment between the Philippines and Japan.
Japan has been a major catalyst for economic growth in the country, providing over $13 billion in grants and low-interest loans through the Official Development Assistance program.
“Japan is a vital partner to the Philippines. It is our second-largest trading partner and third-largest source of foreign investment,” said Secretary Pascual.
The inauguration of this advanced manufacturing facility underscores the Philippine government’s commitment to sustainable development and industrial growth under the Build Better More program.
As the Philippines continues to experience robust economic growth, the trade chief noted that the government is focused on creating an attractive investment climate and enhancing the ease of doing business.
Initiatives such as digitalizing regulatory processes and promoting free trade agreements are key to sustaining this momentum.
“To sustain this momentum, our country is committed to improving our business environment by enhancing the ease of doing business. We are streamlining and digitalizing institutional and regulatory requirements to improve speed and overall ease of doing business, especially for strategic investments,” emphasized Secretary Pascual.
Pascual further urged Taiheiyo to sustain their investment in the Philippines.
“Together, we will continue to build a more robust and dynamic construction sector, driving economic growth, providing jobs, and improving the lives of Filipinos,” he added.