Philippine’s President Rodrigo Duterte’s infrastructure overhaul is expected to drive demand for cement and create a “multiplier effect” in the construction sector, Cemex says, according to a report by ABS–CBN News.
Paul Arcenas, vice president investor relations, Cemex Holdings, said the private sector will match spending by government on more roads, bridges, railways and airports.
“We continue to remain optimistic about the infrastructure program, as the government creates this multiplier effect owing to public construction,” Arcenas told ANC’s “Market Edge with Cathy Yang.”
Cemex Holdings told the stock exchange on Thursday that its unit, APO Cement Corp, partnered with China’s Sinoma Energy Conservation to build and operate a waste-heat-to-energy plant in APO’s Naga, Cebu compound.
Arcenas said the government’s recent decision to lift a moratorium on mining for limestone and other non-metallic substances would help Cemex’s business.