PHINMA Corporation Announces a Joint Venture with ANFLOCOR for the Upcoming Davao Cement Facility

PHINMA Corporation (PHINMA) subsidiary Philcement Corp. (Philcement) announced that it has signed joint venture agreements with Anflo Group management and investment company ANFLOCOR to build a modern cement manufacturing plant in Davao del Norte.

The two prestigious groups' collaboration will ensure that high-quality cement is available to help Mindanao's growth. Both PHINMA and Anflo Group, which have been active in the Davao region since the 1960s and 1950s, respectively, are steadfast in their efforts to improve the lot of Mindanao's citizens. Parties to these agreements include Davao International Container Terminal Inc. (DICT), which runs the most up-to-date port facility in Mindanao and is a division of the Anflo Group.

The cutting-edge plant will be managed by Philcement Mindanao Corp., a 70%-owned subsidiary of Philcement Corp. The remaining 30% of Philcement Mindanao is owned by ANFLOCOR.

"Construction materials are among the many essentials needed to a dignified life through housing and infrastructure. This partnership, which is one of many with the Anflo Group, will enable us to improve the lives of many Mindanaoans," said PHINMA Construction Materials Group President and CEO Eduardo A. Sahagun.

“We at ANFLOCOR are excited about this partnership as we anticipate continued growth in Mindanao which will require good quality cement. Partnering with a like-minded group that has a very extensive track record in this space and whose core value is improving the lives of the communities they operate in, was something very important for us.” said ANFLOCOR Real Estate and Construction Group President and Philcement Mindanao Vice Chairman Ricardo F. Lagdameo.

With a production capacity of two million metric tons annually, the multibillion-peso facility is anticipated to be operational by 2026. This will enable Philcement to provide a consistent and dependable supply, better serving the needs of clients of its historical brand, Union Cement.

"PHINMA is steadfast in its commitment to infrastructure development, with our business solutions designed to promote this. We welcome this opportunity to deepen our relationship with the Floirendos, a like-minded partner and fellow pioneer in nation-building," said Ramon del Rosario, Jr., PHINMA Chairman and CEO.

Philcement Corporation, a 60%-owned subsidiary of PHINMA Corporation, is involved in the production, importing, processing, selling, and distribution of cement products. At present, it runs a cement processing facility at Mariveles' Freeport Area in Bataan.