VIENTIANE — President Ferdinand Marcos Jr. on Wednesday commended Thailand’s Shera Public Co. Ltd.’s plan to expand operations in the Philippines, saying its fiber cement plant in the country will provide employment and cut expenses on imports.
“We’re proud to welcome Shera Public Company Limited’s investment in the Philippines. As a leader in fiber cement products, Shera isn’t just bringing eco-friendly building solutions — they’re also creating jobs and reducing our reliance on imports,” Marcos said. “We look forward to seeing your green innovations in action, helping the Philippines become a hub for smart and sustainable manufacturing.”
Marcos, who attended a business meeting with top Shera executives, headed by Chief Executive Officer Ongek Taechamahaphant and Philippine Country Head Thunnop Jumpasri, issued the statement at the sidelines of the 44th and 45th Association of Southeast Asian Nations Summits at Latsavong Wanda Vista Hotel in Vientiane.
At the meeting, Shera officials discussed their investment plan, which involves the installation and operation of a fiber cement building plant at the TECO Industrial Park in Mabalacat City, Pampanga.
With a project cost of P2.9 billion, the Philippine plant will start operations by the first quarter of 2025. It marks Shera’s first overseas engagement.
Shera Public Co. Ltd., originally named Thai Olympic Fiber Cement Co., was founded in 1974. It is one of the largest manufacturers of fiber cement boards, siding, roofing and concrete roof tiles worldwide.
The company, which provides materials to build quality homes, has expanded to build fiber cement materials for ceilings, walls and decoration.
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