Cemex taps contractors for cement line in Rizal

Cemex Holdings Philippines Corp. (CHP) has tapped Atlantic Gulf and Pacific Co. of Manila and Betonbau Phil. as principal contractors for a $323 million manufacturing line in Antipolo Metropolis in Rizal.

In a submitting with securities regulators, CHP talked about the model new line to be put in at subsidiary Stable Cement Corp.’s facility in Rizal has the potential to supply 1.5 million metric tons per 12 months when it commences operations in April 2024.

The enterprise worth of the model new line has been revised from $235 million to $323 million.

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Building of the model new line is anticipated to be achieved by March 2024.

CHP talked about funding for the additional funding requirements would come from free cash flow into and debt from any subsidiary or financial institutions.

The agency reported a 26.3 % drop in net earnings closing 12 months to P726 million, weighed down by abroad alternate losses.

Web product sales rose six % to P20.9 billion as volumes elevated by seven %.

For 2022, CHP expects its cement volumes to proceed recovering, with constructing train to remain a driver of the nation’s monetary improvement.