Philippines: Phinma Corporation is spending around US$50m on a new cement plant at Bataan with a production capacity of 2Mt/yr. Philcement, a subsidiary of Phinma Corp. and Seasia Nectar Port Services (SNPS), have signed a deal to take over certain construction-in-progress assets, including the usage rights to pier facilities and land currently under lease by Philcement, for a terminal for US$15.5m, according to the Philippine Daily Inquirer newspaper. Eduardo Sahagun, the president and chief executive officer (CEO) said that the company would need up to US$35m to complete the project. Once competed it will be possible to expand the unit to 4Mt/yr depending on market demand.
