Connect with us

Hi, what are you looking for?


Holcim partners with South Korea’s Sungshin to supply infra projects

LOCAL cement manufacturer Holcim Philippines, Inc. has partnered with South Korean cement and concrete producer Sungshin Cement Co. Ltd. to supply the country’s infrastructure projects.

In a statement on Tuesday, Holcim Philippines said that it had signed a memorandum of understanding with Sungshin on March 28 to work together on Philippine infrastructure projects in which the latter is bidding to participate as a concrete supplier.

“Holcim Philippines will serve as the priority supplier of cement and aggregates for Sungshin’s ready-mix concrete batching plants,” the local cement producer said.

The Holcim-Sungshin agreement came after the Philippines and South Korea forged an agreement in December last year that allows Manila to access up to $3 billion worth of official development assistance loans from Seoul for infrastructure and green projects.

In 2021, South Korea was the sixth-largest provider of official development aid to the Philippines. Some of the infrastructure projects that were funded by South Korea are the Jalaur River Multipurpose Dam in Iloilo, the expansion of the Cebu International Port, and the Panguil Bay Bridge connecting Misamis Occidental and Lanao del Norte.

“This strategic partnership is aligned with our goal to increase our participation in important infrastructure projects that advance the country’s development,” Holcim Philippines Senior Vice-President and Head of Infrastructure and Industrial Sales Ram Maganti said.

“With our combined expertise in innovative and sustainable building materials, we are confident in helping clients build lasting structures that uplift lives in the Philippines,” he added.

Sungshin has businesses in cement, ready-mixed concrete, construction materials, transportation, trading, and distribution in South Korea. Aside from the Philippines, it also has a presence in Vietnam, China, Singapore, Bangladesh, and Saudi Arabia.

Holcim Philippines, a member of the Holcim Group, has cement manufacturing facilities in La Union, Bulacan, Batangas, Misamis Oriental, and Davao City. The company is also engaged in aggregates and dry mix business, as well as technical support facilities for building solutions.

On Tuesday, Holcim shares at the local bourse rose two centavos or 0.52% to end at P3.89 apiece. — Revin Mikhael D. Ochave 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



SEOUL/TOKYO — Japan on Monday put its ballistic missile defenses on alert and warned that it would shoot down any projectile that threatened its...


WASHINGTON — US President Joseph R. Biden on Sunday finalized a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4-trillion debt ceiling...


MILAN — The waters in Venice’s main canal turned fluorescent green on Sunday in the area near the Rialto bridge and authorities are seeking...


ANKARA — President Tayyip Erdogan extended his two decades in power in elections on Sunday, winning a mandate to pursue increasingly authoritarian policies which...


CAGAYAN Valley pride Jan Clifford Labog shocked heavy favorite International Master Michael Concio, Jr. yesterday to seize a share of the lead with his...


Games Today (Ynares Sports Arena) 5 p.m. — Blackwater vs Terrafirma 7:30 p.m. — Converge vs Magnolia SHORT in numbers but not in heart,...

You May Also Like


Almost 100 jobs are thought to be under threat at smart home energy technology manufacturer myenergi. The Grimsby firm, named one of the UK’s...


THE MARCOS administration’s plan to revive the Philippine Sugar Corp. (PHILSUCOR) has raised concerns from stakeholders, who said this may duplicate other agencies’ existing...


Canary Wharf Group and The Felix Project, a food redistribution charity have agreed a long-term partnership that will see them join forces to tackle...


By Luisa Maria Jacinta C. Jocson, Reporter EL NIÑO may weigh on Philippine economic growth this year, as the agriculture sector is vulnerable to...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.