Philcement Corp., a unit of Phinma Corp., on Tuesday joined forces with the Floirendo-led management and investment company ANFLOCOR in building a modern cement manufacturing plant in Davao del Norte.
The partnership, the partners said, helps guarantee the availability of quality cement supporting the development of Mindanao.
Phinma had been in Mindanao since the 1960s and the Anflo Group even earlier in the 1950s.
The Davao International Container Terminal Inc., operator of Mindanao’s modern port terminal forming part of the Anflo Group, is also a party to the agreement.
Philcement Mindanao Corp., 70-percent owned by Philcement, will run the state-of-the-art facility. Anflocor owns the otrher 30 percent.
“Construction materials are among the many essentials needed to a dignified life through housing and infrastructure. This partnership, which is one of many with the Anflo Group, will enable us to improve the lives of many Mindanaoans,” Phinma Construction Materials Group president and CEO, Eduardo A. Sahagun, said.
“We at ANFLOCOR are excited about this partnership as we anticipate continued growth in Mindanao which will require good quality cement. Partnering with a like-minded group that has a very extensive track record in this space and whose core value is improving the lives of the communities they operate in, was something very important for us,” Anflocor Real Estate and Construction Group president and Philcement Mindanao vice chairman Ricardo F. Lagdameo said.
The multibillion-peso facility is seen operational by 2026 with annual production capacity of two million metric tons, allowing Philcement to better cater to customers of legacy brand Union Cement by ensuring steady, reliable supply.
Philcement, 60 percent owned by Phinma, operates a cement processing facility at the Bataan Freeport Area in Mariveles.
