Avoytis Ventures, which will invest 2.4 billion yuan to develop the cement project, earlier finalized an agreement with Irish cement producer CRH Plc to buy Lafarge's assets in the Philippines.
About two months ago, cement producers Holcim and Lafarge agreed to merge, with CRH buying some of their assets worth 6.5 billion euros ( $7.12 billion).
Aboitiz had said in May that it was looking to partner with CRH to acquire Lafarge's assets as it seeks to diversify into infrastructure.
"According to the agreement (with CRH), it will acquire Lafarge's assets in the Philippines in the form of a holding company investment, including cement production, cement and other related businesses and services," Avoitis told the Securities Department on Wednesday.
The transaction is expected to close in the second half of 2015.
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