Infra plan boosts demand of construction equipment

CEBU, Philippines — The administration’s ‘Build, Build, Build” infrastructure development plan has boosted demand for construction equipment by 30 to 40 percent for the past three years.

ConEquip Philippines chief executive officer (CEO) and chairman Seth Oliver Tio said, "the construction industry is going up due to the massive infrastructure projects of the Duterte administration and we see a lot of investments coming  in."

ConEquip Philippines is a Cebu-based supplier of construction equipment ranging from brand new trucks and heavy equipment. It is also the first distributor of Russian heavy equipment.

The ‘Build, Build, Build’ program, according to the administration led by President Rodrigo Duterte, will usher in the "Golden Age of Infrastructure". The goals of the program are to reduce poverty, encourage economic growth and reduce congestion.

"The Philippines  is a booming market as you can see construction is everywhere," said Tio whose company just celebrated its 10th year anniversary.

Tio said 60 percent to 70 percent of their clients are from the local government units while the rest are from the private sector.

May Tio, the company's senior vice president for finance said that the competition in the construction equipment is very stiff.

"But we managed to have a better edge as compared to others," she said.

She added that nothing could be at par with the quality of their products.

Their products includes trucks and buses, heavy equipment, rescue equipment, waste management equipment, agricultural equipment, material handling equipment, dredging equipment, among others.

She further said that the company will soon open a more integrated showroom in Cebu.

The company has other branches located in Davao and in Manila. (FREEMAN)