MANILA - San Miguel Corp on Friday said its affiliate Southern Concrete Industries Corp is eyeing to double the manufacturing capacity of its new cement plant in Davao.

Southern Concrete Industries Corp, formerly Oro Cemento Industries Corp, is contemplating doubling its manufacturing capacity to 100 million bags per year, it said in a disclosure to the stock exchange.

SMC president and CEO Ramon Ang earlier said the increase in manufacturing capacity of Southern Concrete "will reduce the dependence and reliance on imported cement and at the same time, support infrastructure development in the Mindanao region."

The unit is also preparing an expansion plan for the construction of an additional grinding plant, SMC said.

In January, the company announced that the Fiscal Incentives Review Board has approved tax incentives for its P10 billion cement manufacturing project in Davao Del Sur.

• San Miguel says P10B Davao Del Sur cement project secures tax incentives
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