Cement sales grew by 9.6 percent in the first quarter from a year ago amid strong demand from both the public and private sectors, the Cement Manufacturers Association of the Philippines (CeMAP) said.
In a text message yesterday, CeMAP president Ernesto Ordoñez said the country’s total cement sales reached 5.7 million tons in the first quarter this year, up from the 5.2 million tons in the same period in 2014.
The growth was attributed to demand from projects being undertaken by the public and private sectors.
Ordoñez said public sector spending, particularly that of the Department of Public Works and Highways went up.
Private sector spending also improved because of growing confidence in the country which continues to show a strong economic performance and enjoying global recognition.
“In addition, Holy Week when growth is slow, did not happen the first quarter this year but in April in the second quarter. This increased growth compared to last year. Last year, it was March in the first quarter which slowed last year’s potential growth,” Ordoñez said.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
Earlier, he said the CeMAP expects increased the construction activity in the country to support higher cement sales this year.
The government has been increasing the budget for infrastructure to address gaps and support economic growth.
The private sector is also undertaking construction activities to meet demand for homes and offices.
The country’s total cement sales reached 21.305 million tons in 2014, up by 9.6 percent from the 19.445 million tons in 2013.
The CeMAP is composed of the following: Cemex Philippines Group of Companies, Holcim Philippines, Inc., Lafarge Associated Companies, Northern Cement Corp., Pacific Cement Philippines Inc. and Taiheiyo Cement Philippines Inc.
No comments:
Post a Comment