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CEMEX Holdings Philippines Inc said Tuesday it is delaying the opening of its new integrated cement plant in Antipolo City to January 2022.
The Board of Investments approved their amended timetable for opening the new plant from the earlier target of December 2020.
"Accordingly, the 4-year income tax holiday period applicable to this project shall be reckoned from January 2022 or the actual start of commercial operations, whichever is earlier," the company said.
The $265-million integrated production line is expected to produce 1.5 million metric tons per year of SOLID cement products.
This article was originally published by ABS-CBN News.
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