MANILA -- A company owned by San Miguel President Ramon Ang will start building a $300 million cement plant in Davao City next month, joining other firms that have pledged to ramp up investment in President Rodrigo Duterte's home city.
The factory, capable of producing 2 million tons, or 50 million bags, per year, will be built by Eagle Cement, a private company controlled by Ang, according to a statement on Wednesday.
Meanwhile, San Miguel is scheduled to open a 2,000 hectare industrial park and a 300 megawatt coal power plant this year in Davao, where Duterte held various positions, including mayor, vice-mayor and congressman, for 22 years before being elected president on May 9.
Ang earlier said Sam Miguel is keen on building more industrial estates, power plants, feed mills and gasoline stations on the southern Philippine island of Mindanao, where Davao is located. San Miguel already runs a brewery in Davao.
Since Duterte's election, Mindanao has been receiving investment pledges. Developers Ayala Land and Megaworld said they are boosting real estate projects in Davao, while food and beverage giant Universal Robina plans to add snack lines in Cagayan de Oro City.