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Cemex Holdings Philippines Inc. (CHP) has signed an electricity supply agreement with Sem Calaca Res Corporation.
In a disclosure to the Philippine Stock Exchange (PSE), CHP said that its board of directors had been notified that the firm’s principal operating subsidiaries, APO Cement Corporation, had entered into a Retail Supply Agreement with Sem Calaca.
According to the agreement set to expire on December 25, 2024, Sem Calaca, Semirara Mining, and Power Corporation’s (SMPC) retail power supply arm would deliver electricity to APO’s cement production facilities in Naga, Cebu.
In April, DMCI Holdings Inc. agreed to purchase 100% of Cemex Asian South East Corporation, which holds 89.86% of CHP.
DMCI stated that this transaction would enable it to generate opportunities with the firm, which has investments in coal mining, power generating, construction, and property development. In addition, the energy company could also offer CHP with 50 megawatts (MW) of electricity and fly ash.
In response, DMCI disclosed its strategic plan to resuscitate the cement firm, with DMCI and DMCI Homes expected to procure around 400,000 metric tons of cement from CHP.
