In order to fully expand the Philippine cement market, Cemex once spent $67.3 million to acquire the APO Cement Plant in Cebu. On May 1, 2015, Aquino III also set his inauguration ceremony in this 3433-square-meter area to celebrate the arrival of Labor Day with the Filipino people.
APO Cement's annual production capacity of 1.5 million tons has also strengthened Cemex's strength. At the inauguration ceremony with the theme of "Building a Better Future", the President of the Philippines said: "The quality of cement directly determines the quality of our housing, which can change our living standards, the roads we walk on, and the hospitals that save lives. The airport with convenient transportation and the port with developed economy are attributed to cement.
The implementation of this capacity expansion project has provided employment opportunities for nearly 800 construction workers, while APO Cement Plant currently has about 950 ordinary and contracted workers. "I am very proud of Cemex. Cemex not only improves people's lives, but also has a positive impact on society as a whole through its services and products," Palominoma said.
Of course, in addition to the cement plant in Cebu, Cemex in the Philippines has also completed the construction of a new marine distribution terminal in Manila, Iloilo, totaling 1 billion Philippine pesos, as well as investing in various new businesses including ready-mixed concrete, aggregate production and distribution, concrete pavement, and affordable housing solutions.
Joaquin Estrada, president of Cemex Asia, said: "We still have a very high market share in this country, and we will continue to seek new opportunities, while the executive branch is doing a good job of promoting inclusive growth and a stable economic environment."
Since 1997, Cemex has operated two cement plants in the Philippines, one at the APO Cement Plant in Naga Cebu and the other at the Rizal Cement Plant in Antipolo.
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