DM Consunji Inc. (DMCI) is spending P7.2 billion for the energy projects of Semirara Mining and Power Corp. (SMPC) and DMCI Power Corp.
SMPC is setting aside P5 billion for to buy equipment and improve its facilities, the company told the Philippine Stock Exchange on Monday.
Off-grid power supplier MMCI Power is spending over P2.2 billion to build power plants and buy additional equipment.
Also, DMCI Mining Inc. is setting aside P700 million to acquire additional equipment and machineries. DMCI Mining plans to increase its nickel output to help weather the slump in commodity prices.
DMCI is investing in a cutting-edge steel plant and has completed building a P900-million state-of-the-art steel plant in Calaca, Batangas.
As newest high capacity steel fabrication plant in the country, the DMCI facility
uses machine tool technology from Peddinghaus Corp. and Voortman Steel Machinery. Both are globally acknowledged suppliers of innovative machine tool technology for structural steel and plate fabrication.
The last known high capacity steel fabrication plant in the Philippines was established in the 1980s.
The steel plant has the capacity to fabricate heavy steel sections for power plants, infrastructure and steel vertical structures. It currently supplies the requirements of the DMCI group, but plans are afoot to secure contracts with other industrial and construction companies.
The facility has generated jobs for over 240 people, mostly from Batangas province.
“The idea to set up a steel fabrication facility came about in April 2013. We did market and business case studies for a couple of months before breaking ground in November 2014,” said DMCI President Jorge Consunji.
“Right now, we are completing the ancillary building structures while our fabrication operations are on-going,” he added.