Holcim Philippines

San Miguel Corp., through unit First Stronghold Cement Industries, agreed to acquire an 85.7% stake in Holcim Philippines Inc. from LafargeHolcim Ltd, with a total enterprise value of $2.15 billion.

Huaxin Cement was contracted by Holcim Philippines for a $245 million engineering, procurement and construction project to build a 6000tpd production line, renovate an existing 3000tpd line, and erect a 7MW waste heat power generation project. The contract is expected to be fulfilled over two years.

Holcim Philippines is investing to increase its cement production capacity from 10 million to 12 million metric tons.