San Fernando, Cebu—Department of Trade and Industry (DTI) Secretary Fred Pascual inaugurated a Japanese cement company’s new PHP 12.8 billion production line on July 18. This new facility is expected to bolster cement production in the Philippines and reduce reliance on imports.

Taiheiyo Cement Philippines Inc. (TCPI)’s state-of-the-art plant in San Fernando, Cebu has an annual production capacity of 3 million tons.

“Taiheiyo’s new plant in San Fernando, Cebu will bolster the Philippines’ cement production by 3 million tons annually, reducing our reliance on imports. This investment aligns perfectly with our government’s Build Better More infrastructure program,” stated Secretary Pascual.

The new plant features advanced kiln renewal technology that reduces carbon dioxide emissions by at least 10% through decreased energy consumption and a lower clinker factor, aligning with the country’s broader environmental goals.

DTI Secretary Fred Pascual with officials from Taiheyo Cement Philippines

“We commend TCPI for setting a new standard for environmentally responsible manufacturing in the cement industry. This advanced technology is set to reduce carbon dioxide emissions significantly. Taiheiyo’s San Fernando plant contributes to a greener future for our world,” Secretary Pascual added.

In addition to the new production line, Taiheiyo Cement has invested significantly in related projects, including the PHP 3.1 billion Jetty and Marine Belt Conveyor project, PHP 1.4 billion for the port area, and PHP 3.7 billion for the Luzon Distribution Terminal Project. These investments enhance bilateral trade and investment between the Philippines and Japan.

Japan has been a major catalyst for economic growth in the country, providing over USD 13 billion in grants and low-interest loans through the Official Development Assistance program.

“Japan is a vital partner to the Philippines. It is our second-largest trading partner and third-largest source of foreign investment,” said Secretary Pascual.

The inauguration of this advanced manufacturing facility underscores the Philippine government’s commitment to sustainable development and industrial growth under the Build Better More program.

As the Philippines continues to experience robust economic growth, the government is focused on creating an attractive investment climate and enhancing the ease of doing business. Initiatives such as digitalizing regulatory processes and promoting free trade agreements are key to sustaining this momentum.

“To sustain this momentum, our country is committed to improving our business environment by enhancing the ease of doing business. We are streamlining and digitalizing institutional and regulatory requirements to improve speed and overall ease of doing business, especially for strategic investments,” emphasized Secretary Pascual.

“I urge Taiheiyo to sustain your investment in the Philippines and your collaboration with us as we welcome innovative and sustainable projects from your company. Together, we will continue to build a more robust and dynamic construction sector, driving economic growth, providing jobs, and improving the lives of Filipinos,” he added. ♦

Date of release: 19 July 2024

Related posts:

Trade Secretary Pascual promotes Philippine investment opportunities to Japanese investors Philippines showcases strong investment approval growth amid global economic challenges Japanese tire manufacturer mulls expansion in the PH—DTI DTI Task Force Kalasag cracks down on substandard steel wires worth nearly PHP 600K in Samar and Leyte DTI endorses MinebeaMitsumi’s efforts to strengthen Philippine semiconductor workforce DTI to Japanese businesses: Philippines is conducive for foreign investments Trade Chief highlights Luzon’s potential as economic powerhouse and investment hub at Bagong Pilipinas Town Hall Meeting DTI forges new paths for growth with Taiheiyo Cement during Japan visit