Money News | SHERA invests P2.5-B in the Philippines | In its commitment to providing more aesthetic architectural products and enhancing Filipinos’ better living through environmental-friendly and superior quality building materials, SHERA Building Solution (Philippines) Corporation is investing P2.5-B by establishing its own manufacturing plant in the country.
The plant is rising soon at Tipco Estates Corporation (TECO) Industrial Park, Ninoy Aquino Highway Brgy. Bundagul, Mabalacat City, Pampanga. The contract signing between SHERA Philippines Director Ongek Taechamahaphant and TECO President Jose E. Reyes took place on April 4, 2023, in Makati City.
A leading brand in green innovative fiber cement (ficem) products, SHERA offers an array of solutions for ceiling, walling, and flooring applications renowned for their durability, water & fire resistance, fast-built, and low maintenance requirements – truly an ideal choice for construction projects worldwide.
By becoming a fully localized corporation — by having both trading and manufacturing units in the Philippines — SHERA is building more trust with distributors and customers and is giving a strong commitment to the best product availability and customer service leading to the sustainable growth of the company in the long term.
This development is expected to stimulate consumption activities for the local community. The location is strategic for product distribution to customers nationwide both by in-land trucking and by sea. Moreover, SHERA intends to use local raw materials with only 10% of its budget allotted to importation. Pampanga’s proximity to many sources of raw materials needed for manufacturing is a big advantage for SHERA.
The move is also seen as an economic advantage to the country. The construction of the plant alone could generate 300-500 new jobs in the community and neighbouring towns of Pampanga. Further, since ficem product is one of the fundamental building materials for most construction types, Filipinos are assured of product availability and price stability as well as better and faster customer service. Reliability on importation situation especially, during the uncertainty of logistic and global economy impacts such as freight shortage and forex fluctuations shall be lessened.
The ground-breaking rites for SHERA which also signal the start of the construction site are scheduled in mid 2023 while the grand opening ceremony is expected to happen in period of next 15-18 months.
For more information, please visit https://www.shera.com/ph/ or like us on facebook, https://www.facebook.com/Sheraphl to know more.