CHP, which doubled losses in 2023 to P2 billion due to high costs and low sales, also sees significant growth opportunities from its new 1.5-million-ton cement production line at the Solid plant in Antipolo, Rizal, set to operate by September this year.
This will double Luzon's cement production capacity and increase CHP's total capacity to 7.2 million tons annually, an increase of 26 percent.
The group also expects power, fuel and other production supplies costs, which represent 73 percent of CHP’s cost of sales in 2023 “to decrease due to normalizing market prices and the transition to a more affordable energy supplier, Semirara Mining and Power Corp.”
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
