The ongoing infrastructure constructions fostered by the government’s “Build, Build, Build” initiative is one of the key programs which accelerates development of the country’s economy.
These resulted to continuous growth in strong demand for cement and building materials industry in the Philippines, which is being attributed by ASEAN conglomerate Siam Cement Group (SCG) for the tremendous increase in its generated total sales in the Philippines of $95 million in the third quarter this year or 46 percent higher than the third quarter 2017.
Roongrote Rangsiyopash, SCG President and CEO said SCG’s Philippines overall sales reached $273 million for the first nine months of 2018.
The revenue increase in all SCG’s business units is due to improved overall market conditions, higher demand of cement and building materials and foreign investment projects by public and private sectors, consistent market demands in Chemicals and Packaging business.
“SCG is confident that we are able to strengthen our regional business by short-term strategy to enable us to timely adapt to the changing circumstances with the directions of proactive plan, and the long-term strategy that has been built a sustainable growth for our business,” Rangsiyopash said.