Vientiane, Laos—President Ferdinand R. Marcos Jr. and Department of Trade and Industry (DTI) Secretary Cristina A. Roque expressed their enthusiasm for SHERA Public Company Limited’s upcoming PHP 2.9 billion investments in the Philippines. The company plans to build a green and artificial intelligence (AI)-driven fiber cement boards facility, which is expected to commence operations by the first quarter of 2025.

In photo: President Ferdinand R. Marcos Jr., House Speaker Ferdinand Martin Romualdez, Secretary of Trade and Industry Cristina A. Roque, and other key government officials presenting green lane certificate to SHERA Public Company Limited

The project was granted a green lane certificate during a meeting held on October 9, on the sidelines of the 44th and 45th Association of Southeast Asian Nations (ASEAN) Summits and Related Summits.

“This investment aligns perfectly with our strategic goals of becoming a global hub for manufacturing. By leveraging state-of-the-art technologies such as AI and Internet of Things (IoT), SHERA is setting a new standard for innovation in the Philippines, and the DTI is fully committed to supporting their success,” said Secretary Roque.

The company’s new plant—which is set to rise within the TECO Industrial Park in Mabalacat City, Pampanga—will introduce SHERA’s cutting-edge fiber cement building materials to the Philippine market. These materials, known for their stability, strength, and weather resilience, are poised to revolutionize the country’s construction and manufacturing sectors.

The new facility will also produce a variety of fiber cement products for residential and commercial construction. These products include roofing, siding, wall panels, and even door jambs.

SHERA is dedicated to sustainable practices and aims to minimize its environmental impact. The company plans to utilize local fibers such as abaca and tobacco stalks source silica sand from Mount Pinatubo. This commitment to local sourcing is projected to achieve 60% local content by value and 90% by weight. Furthermore, SHERA’s fiber cement products are biodegradable, with damaged boards able to be repurposed as landfill covers.

The company’s decision to invest in the Philippines was based on several factors, including the country’s robust economic growth, expanding construction industry, and strategic location within Southeast Asia. It sees the Philippines as a potential export hub for reaching markets like Korea, Japan, Australia, and New Zealand.

This investment is particularly significant as the Philippines currently relies on imports for 100% of its fiber cement board requirements. By establishing a local facility, SHERA’s investment will reduce the country’s import dependence and generate 300 high-quality, environmentally sustainable jobs for the local workforce.

In photo: President Ferdinand R. Marcos Jr., House Speaker Ferdinand Martin Romualdez, Secretary of Trade and Industry Cristina A. Roque, and other key government officials during their meeting with SHERA Public Company Limited executive

Beyond job creation, President Marcos Jr. highlighted the need for training programs to educate end-users on applying these new product types. SHERA echoed this sentiment, emphasizing its commitment to building an ecosystem that supports the adoption of these innovative construction methods. 

This shared vision not only enhances workforce readiness, but also strengthens the broader economic partnership between the Philippines and SHERA.

“The partnership between the Philippines and SHERA Public Co. Ltd. is a testament to the country’s attractiveness as an investment destination. With its strong economic fundamentals, commitment to sustainability, and openness to innovation, the Philippines is well on its way to become a global leader in the manufacturing sector,” said Secretary Roque.

SHERA is a leading manufacturer of fiber cement building materials. The company is headquartered in Thailand and has 3,000 companies in over 40 countries. It is committed to providing high-quality, innovative, and environmentally friendly products for residential, commercial, and industrial buildings. ♦

Date of release: 14 October 2024

Related posts:

DTI champions sustainable innovation among Filipino startups at Ecothon 2024 DTI cites strategic measures to lower logistic costs and enhance supply chain efficiency DTI celebrates PH franchise excellence, pledges support for franchise sector Philippine creative industries take center stage at Creative Nation Summit 2024 DTI champions PH economic growth and export expansion in meeting with Itochu Corporation Kenneth Cobonpue to unveil new pieces at Manila FAME homecoming DTI chief pushes to expand Filipino product presence in UAE DTI pushes for increase in trade and investment with Japan’s largest retailer AEON