Thai cement maker to build $20-million plant in Philippines

The Mahaphant Group of Thailand, a leading manufacturer of fiber cement boards, has announced plans to put up a $20-million plant in the Philippines on or before 2017 to take advantage of the country’s rapidly growing demand for its products.

Encouraged by the 10 percent to 15 percent annual growth in fiber cement sales in the Philippine market, the firm is conducting a feasibility study that is expected to take two-and-a-half years to complete “but the funding is not a problem,” said Mahaphant president Sarat Khiatbanlue.