October 12, 2024 | 12:00am
VIENTIANE — The Philippines is expected to reduce its reliance on imported fiber cement once the P2.9-billion plant of SHERA Public Company Limited – the largest fiber cement innovator in Southeast Asia – starts its operation in Pampanga in the first quarter of next year, President Marcos said.
Marcos made the remarks during his meeting with SHERA top executives on the sidelines of the 44th and 45th ASEAN Summit and Related Summits here on Wednesday.
“For the Philippines, of course we are very interested in this because of import substitution that it will provide. And hopefully, if things go well, you can use the Philippines as a center hub for export to wherever else other markets that you might want to enter,” Marcos said.
The Thai company will build its plant inside the TECO Industrial Park in Mabalacat, Pampanga. It will serve as SHERA’s first overseas operations in the Philippines that could employ 120 to 150 full-time workers.
Aside from manufacturing products for the Philippines, the facility will also export to Taiwan, South Korea, as well as parts of North Asia and Oceania.
In an Instagram post, Marcos said SHERA’s green innovations would help the Philippines become a hub for smart and sustainable manufacturing.
“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 solutions — they’re also creating jobs and reducing our reliance on imports,” he said.
The company has been granted with a green lane certificate for easier approval and processing of permits, according to Special Assistant to the President for Investment and Economic Affairs Frederick Go.
“So now we can say we are able to manufacture this product locally,” Go said.
“We were told that 80 to 90 percent of the product that goes into the final product are sourced within the Philippines,” he said.
Established in Thailand in 1974, SHERA is a leading manufacturer of unique and environmentally friendly fiber cement products such as fiber cement boards, panels, sidings, and various wood substitute products, offering unmatched stability, strength, and weather resilience.
The 3,000-strong company is the largest fiber cement innovator in Southeast Asia and globally recognized in more than 40 countries.
SHERA has an annual production capacity of one million metric tons and a distribution network spanning over 15,000 points across Southeast Asia and India.
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