Eagle to bring down cement prices, compete with imported products

Eagle Cement Corp. intends to compete with cheap imports from China and Vietnam and bring down cement prices in the country.

"We hope to bring down cement prices to make it more affordable to the consumer. Ang presyo ngayon, napaka-competitive kasi napakaraming imported," Ramon S. Ang, Eagle Cement chairman, told reporters in Makati City.

"Nanggagaling 'yan sa China, Vietnam and other neighboring countries. I think a company like Eagle will be able to compete," he added.

The company intends to proceed with the construction of a $300 factory in Davao City. "Sa ngayon proceed pa rin," Ang noted.

Eagle Cement is scheduled to break ground in Davao next October.

Ang also said the company is scheduled to put up a new factory Cebu, as it seeks a 25 percent market share in the next three years.

The infrastructure spending program is expected to provide an additional boost to company revenues.

"It will help, but majority of the cement market is really catering to the general public kasi napakaraming OFW na nagpapatayo ng bahay everywhere," he added.

The administration plans to spend more than P8 trillion on the country's golden age of infrastructure in the next six years, with P860.7 billion allocated to large-scale projects this year. — VDS GMA News