Lafarge Republic announces 1.7mn tons of new capacity by 2015-A A +A
Friday, February 28, 2014
MANILA -- With the government’s plans to invest more than P400 billion into various infrastructure projects and the private sector’s continued optimism in numerous commercial developments throughout the Philippines, Lafarge Republic Inc. (LRI) announced its latest investment in a new Cement Mill in its Norzagaray manufacturing plant.
Having an annual capacity of 850 K tons per annum, the new mill is expected to be operational by June 2015, which will be six months after the commissioning of a similar new mill in its Teresa manufacturing plant in January 2015.
“These investments are a visible example of Lafarge Republic’s commitment to reliably supply its world leading cement and aggregate products throughout the Philippines to fully support the ambitious growth targets of both the government and the private sector. In spite of the recent calamities that struck the central and southern portions of the country, the Philippine economy has demonstrated resiliency, and LRI will be there to rebuild damaged homes and build new homes throughout the country,” said LRI president Renato Sunico.
This latest expansion in cement capacity follows the successful series of new capacity projects throughout Lafarge Republic’s manufacturing network throughout the Philippines in 2013.
In anticipation of increasing construction activity in Visayas, LRI reopened its Danao Plant in Cebu in March 2013.
In addition, key debottlenecking projects in its Iligan and Norzagaray plants provided an additional 500 K tons per annum of cement production capacity.
“The re-commissioning of our facility in Danao enables us to flexibly serve demand during peak periods and guarantees the reliable supply of high quality Lafarge Republic Cement to every key region of the Philippines, namely, Visayas, Mindanao, and Luzon. We believe in the long term development of the Philippines and will continue to develop strategically important capacity expansion projects that will ensure supply,” said Lafarge Holdings Philippines Inc. president Don H. Lee.
LRI registered a profit of P3.0 billion in the first nine months of 2013, which was an increase of 55 percent from the same period in 2012. Recorded net sales for the same period also improved by 22 percent compared to the previous year.
The continued growth in infrastructure and other construction projects launched by the government, coupled with strong domestic demand for cement from the private and commercial sectors, contributed to the increase in sales during 2013. (PR)