Philippines: Southern Concrete Industries Corporation says that it has doubled the planned capacity of its upcoming US$195m Davao del Sur cement plant in Davao Region to 4Mt/yr. The Philippine Fiscal Incentives Review Board (FIRB) approved a two-year income tax holiday and five years of enhanced deductions for the plant and duty exemptions for its equipment on 18 January 2022. The tax breaks will come into effect when the company commissions the plant in July 2022. CEO Ramon Ang said that the enlarged capacity will help to reduce the region’s reliance on imported cement and support infrastructure development on Mindanao.
