Eagle Cement moves completion of Cebu plant to 2021
Ramon Ang-led Eagle Cement Corp. has moved the completion date of its fourth production line in Malabuyoc, Cebu to 2021 instead of 2020, due to bureaucratic delays.
"For our intended line for Malabuyoc, Cebu, there were delays in securing permits needed to construct," Eagle Cement president and CEO John Paul Ang said during the company's annual stockholders' meeting in Mandaluyong City on Tuesday.
"The target completion would have to be moved to 2021," Ang said.
Eagle Cement broke ground for its P12.5-billion Cebu plant, with a capacity of 2.0 million metric tons per year, in November 2017 in a bid to increase its annual production capacity to 9.1 million metric tons.
The company originally targeted to complete the facility in 2020. It will serve the Visayas and Mindanao markets.
"Despite the setback, we are still targeting to sell cement in the Visayas region by end-2020 as promised," Ang said.
Currently, the Eagle Cement has three production lines located in San Ildefonso, Bulacan. The three lines has a combined capacity of 7.1 million metric tons of cement per year serving the Luzon markets. — MDM, GMA News
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