Del Rosario family obtains P500M loan to fund cement operations | Bilyonaryo Business News
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Del Rosario family obtains P500M loan to fund cement operations

Philcement Corp. , a 60 percent owned subsidiary of conglomerate Phinma Corp., has secured a long-term loan from Security Bank Corp. amounting to P500 million.

Philcement Corp. , a 60 percent owned subsidiary of conglomerate Phinma Corp., has secured a long-term loan from Security Bank Corp. amounting to P500 million.

The loan will be used to support the company’s capital expenditures. It has a world-class cement processing facility in Mariveles, Bataan.

The Del Rosario family reentered the cement business in 2018 after a 14-year hiatus, providing consumers of reliable, high quality supply of cement products under its legacy brand Union Cement.

The company is hoping for a recovery in the industry this year, banking on increased government and private sector construction spending, especially in industries such as health and logistics.

It also hopes to close its $50 million investment in Song Lam Cement Joint Stock Company, which will diversify its construction materials portfolio and enable it to participate in the fast growing cement market in Vietnam.

 
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