DMCI completes P900M steel plant in Calaca, Batangas
MANILA, Philippines – The construction arm of Consunji-led DMCI Holdings Incorporated has completed its P900-million ($19.55-million) steel plant in Calaca, Batangas – the first in the Philippines since the 1980s.
DM Consunji, Incorporated (DMCI) said the high-capacity steel fabrication plant has provided jobs for 240 people, most of whom are from Batangas province.
"The idea to set up a steel fabrication facility came about in April 2013. We did market and business case studies for a couple of months before breaking ground in November 2014," DMCI president Jorge Consunji said in a statement.
DMCI said the plant uses machine tool technology from Peddinghaus Corporation and Voortman Steel Machinery, which are both globally-acknowledged suppliers of machine tool technology for structural steel and plate fabrication.
The steel plant has the capacity to fabricate heavy steel sections for power plants, infrastructure, and steel vertical structures, the construction firm said.
It currently supplies the requirements of the DMCI group, but the construction firm plans to secure sales contracts with other industrial and construction companies.
"Right now, we are completing the ancillary building structures, while our fabrication operations are ongoing," Consunji said.
On Friday, April 1, DMCI Holdings reported a 20% increase in core net income, backed by strong performance of its businesses.
The company saw its core net income surge to P12.3 billion ($267.13 million) in 2015, from P10.3 billion ($223.69 million) in 2014.
"Our growth was driven by the strong performance of all our investments," DMCI Holdings chairman and president Isidro Consunji told the Philippine Stock Exchange.
"Despite weak commodity prices and project execution delays, we were able to meet our profit guidance for the year," he added. – Rappler.com
$1 = P46.04