MANILA – Bangkok-based fiber cement manufacturer Shera is investing PHP2 billion in the Philippines, its first facility outside Thailand.
At the building and construction exposition Worldbex 2024 in Pasay City Thursday, Shera country head Thunnop Jumpasri said the PHP2-billion construction plant will be located in a two-hectare property in Mabalacat, Pampanga.
It will have an initial capacity of 100,000 metric tons annually that can be doubled in the coming years and the opening of the new plant will need 120 to 150 workers.
“(We) plan to expand to other countries but [the] Philippines is our first (facility) outside Thailand... (In other countries,) we need to understand the market (and) culture, but in the Philippines, we’ve been here, so (we are) confident because understand the market,” Jumpasri said, adding that the company started the installation in 2023 and targets to complete the plant this year.
Last year, Shera’s sales in the Philippines were at PHP1.5 billion.
“We are positive to grow around 10 to 5 percent,” the executive added.
With the opening of its factory here, Shera aims to bring to the country its sustainable and eco-friendly construction products, especially for establishments, buildings, and houses that want to integrate green solutions in their projects.
The company also targets to seize business opportunities in the Philippines with the administration’s infrastructure program and the private sector’s construction projects.
“We plan to export to other countries from [the] Philippines to Taiwan, Korea, and some parts of China, but we prioritize the Philippines first for now,” Jumpasri added. (PNA)
