AboitizInfra to spend $300M on expansion

ABOITIZINFRA Capital, a subsidiary of AboitizGroup, plans to spend up to $300 million over the next five years to increase the capacity of its cement business, Republic Cement and Building Materials (RCBM) in line with the Duterte administration’s thrust on infrastructure programs.

“We have agreed to increase our capacity of cement business in the Philippines. I think the investment will bring about a million tons a year of capacity,” AboitizInfra Capital President and Chief Executive Officer Sabin Aboitiz said during the parent company’s annual stockholders meeting in Makati on Monday.