Philippines-listed holding firm Phinma Corp announced on Friday that its 60 per cent-owned subsidiary Philcement Corporation signed an agreement for the acquisition and takeover of Bataan cement processing terminal for 800 million pesos ($15.4 million).
The Bataan facility is expected to be functional by year-end. Philcement is Phinma’s vehicle for its cement industry comeback and is expected to contribute to the growing demand for reliable and quality cement and construction materials in the Philippines.
Phinma has investments in education, property development, and hospitality. It recently invested $50 million in Vietnam’s Song Lam Cement Joint Stock Corporation, a subsidiary of the Vissai Group.
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