MANILA, Philippines – Businessman Ramon S. Ang, through his firm Eagle Cement Corporation, is set to build a $300-million cement manufacturing plant in Davao City within the year, betting on Mindanao's growth prospects.
Set to break ground on October 20, the cement plant is seen to boost production and demand from infrastructure activities in and outside Metro Manila.
Ang – who owns Eagle and serves as president and chief operating officer of San Miguel Corporation (SMC)– said the construction of the cement plant is part of a plan he announced earlier this year for Eagle to help support the country's growth while strengthening its position in the industry.
Ang said in a statement that the new facility can produce two million tons or 50 million bags of cement per year.
The businessman has identified Davao City – hometown of President Rodrigo Duterte – as a key growth area for the Philippines.
In 2013, Ang's power company San Miguel Global Power Holdings Incorporated broke ground for a new power generation facility in Malita, Davao.
The 300-megawatt power plant – which is part of a 2,000-hectare PEZA-accredited industrial estate SMC is building in the province – is now fully online.
Ang also has a major brewery in Mindanao. Davao is home to San Miguel Brewery Incorporated's Davao Brewery.– Rappler.com