LISTED Cemex Holdings Philippines Inc. said Monday that its subsidiary Apo Cement Corp. had signed a supply agreement with Sem-Calaca RES Corp. (SCRC) for the latter to provide 44 megawatts of electricity for Apo’s cement plant in Naga, Cebu.
The supply contract will expire on Dec. 25, 2024, the firm told the stock exchange.
Sem-Calaca is the retail electricity arm of Semirara Mining and Power Corp.
Cemex was bought earlier this year by Consunji-led DMCI Holdings Inc., which acquired the former’s parent firm for $305.6 million and is looking at a turnaround next year after a P2-billion loss in 2023.
Last month, Cemex subsidiaries Apo Cement and Solid Cement executed an agreement for the assignment of trademarks with Cemex Innovation Holding Ltd. for $8.2 million and $4.35 million, respectively.
Cemex shares remained unchanged on Monday at P1.40 apiece amid a 0.62-percent increase for the benchmark Philippine Stock Exchange index.
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