HOLCIM Philippines, Inc. is spending P210 million for projects that are expected to help its cement facilities consume less fuel and bring down their carbon footprint, the building solutions provider said on Thursday.
In a disclosure to the stock exchange, Holcim said that it recently inked an agreement with Sinoma CBMIPH Construction Corp., the local unit of China-based engineering firm Sinoma CBMI, to install two drying facilities in the listed company’s La Union and Misamis Oriental cement plants.
The projects aim to help the firm reduce its fuel consumption and increase the “mineral additive usage” of its cement plants.
Horia Ciprian Adrian, Holcim president and chief executive officer, said: “More efficient operations will help us deliver better financial results and improve our environmental footprint. We look to continue implementing these improvements to meet our objectives of delivering greater value to our shareholders and business partners while becoming better stewards of the environment.”
The drying facility to be installed in the listed firm’s Bacnotan, La Union plant will reuse hot gases from cement operations to dry materials. Meanwhile, the drying facility which will be equipped in the Lugait, Misamis Oriental plant will provide more mineral additives to cement to reduce the firm’s carbon footprint.
The La Union and Misamis Oriental projects will be completed in the first quarter of 2022 and end of October this year, respectively.
In January, Holcim embarked on a P121.5-million worth of projects to improve its Norzagaray, Bulacan cement plant’s ability to convert waste materials to alternative fuels.
Holcim currently operates five cement manufacturing facilities across the country.
The company previously reported that its first-quarter attributable net income to its parent reached P908.92 million, up by 81% compared to its year-on-year level of P501.31 million, as the economy slowly picked up.
Holcim shares at the local bourse improved by 4.18% or 30 centavos to finish P7.48 apiece on Thursday. — Angelica Y. Yang