Solid Cement secures BOI perks under pioneer status
(The Philippine Star) - April 13, 2019 - 12:00am

MANILA, Philippines — Solid Cement Corp., a wholly owned subsidiary of Cemex Holdings Philippines and operator of the Antipolo cement factory, has recently obtained from the Board of Investments (BOI) “pioneer“ status as a new producer of cement in Antipolo. The much-awaited development not only entitles the company to certain fiscal incentives and tax holidays -- it also allows the company to build a new and independent production line while jacking up its total capacity to 3.4 million metric tons each year.

Solid Cement currently has a capacity of 1.9 million metric tons and serves the markets of southern Luzon and the National Capital Region. It produces products that carry the Island and Rizal Cement brands.

 “Securing BOI approval signifies that we are on the right track as an investor supporting Philippine growth. We are looking forward to delivering a steady supply of building materials for customers even as we continuously work towards being a partner for nation-building,” said Ignacio “Nacho” Mijares, president and CEO of Cemex Holdings Philippines.

The company is investing $235 million for its cement plant in Antipolo which will generate a new capacity of up to 3.4 MMT from the current 1.9 MMT by 2020. It engaged China’s CBMI Construction Co., Ltd. for the engineering, procurement, and construction of the project.

With more than two decades in the country, Cemex has contributed to the advancement of the construction industry through capacity innovations. The creation of a new production line in Antipolo is one of the initiatives that Cemex has set to allow for more efficient production and supply delivery, particularly for projects at the National Capital Region and South Luzon.

 “This will allow us to further serve the cement requirements of the country during this important period heralded as the Philippines’ golden age of infrastructure,” added Mijares, pertaining to the company’s support for the government’s Build Build Build agenda.

The BOI approval also strengthens Cemex’s foothold as a leading cement manufacturer, as it also connotes tax exemption for the facility for up to four years from the start of commercial operations. “We always utilize opportunities to increase productivity and reduce unitary distribution costs. The tax exemption will enable us to improve our prices and have better profit margin,” said Adrian Bancoro, tax director of Cemex Philippines.

The project marks Cemex’s confidence in the economic progress of the country and its commitment to build a sustainable future through strong partnerships with customers and stakeholders.

Cemex currently has a total yearly capacity of 5.7 million tons, which it delivers through its Solid Cement plant in Antipolo, Rizal and the APO Cement plant in Naga City, Cebu – two of the biggest cement plants in the country today. Production and delivery of building materials is complemented by the company’s extensive marine and land distribution networks in Luzon, Visayas, and Mindanao.

Cemex has been operating in the Philippines since 1997 and has since improved the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future. Its high-quality products and reliable services are available in more than 50 countries worldwide.

CEMEX HOLDINGS PHILIPPINES SOLID CEMENT CORP.
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