EAGLE Cement Corp. said it plans to spend P4.5 billion in capital expenditures (capex) this year, mainly for its facilities in Luzon, as the company wants to become the country’s top cement company in two years.
Paul Ang, the company’s president and CEO, said the company is preparing to commission its third line in Bulacan within the year.
The third production line will add 2 million metric tons (MMT) to Eagle’s current capacity, and expand its market reach to the Bicol and Mimaropa (Mindoro, Marinduque, Romblon and Palawan) regions.
“The opening of our third production line will allow us to better serve new markets in Regions 4 and 5. This will give our company an increased role in the country’s infrastructure push, as we help build the future of Filipino communities,” Ang said.
Eagle said it will become the country’s top cement firm in 2020 with its cement capacity of 9.1 MMT per year, overtaking the LafargeHolcim Group with 6.88 MMT per year, Republic Cement of the Aboitiz Group with 6.77 MMT per year and Cemex with 4.68 MMT per year.
Apart from the completion of its third production line, the company is also working on its fourth production line in Malabuyoc, Cebu, an undertaking that will give the company nationwide reach through markets in the Visayas and Mindanao.
“Private consumption is still strong as conglomerates embark on expansion strategies, and the government remains steadfast in its national infrastructure push. All of our efforts are geared toward helping provide the cement demand of the local economy, through quality products that will become part of the country’s future,” Ang said.