BondsPress Release

Holcim, Sungshin ink partnership to supply Philippine infra projects 

Leading building solutions provider Holcim Philippines, Inc. and top South Korean cement and concrete producer Sungshin Cement Co. Ltd are partnering to support infrastructure projects in the country. 

The companies signed a memorandum of understanding on March 28 to work together on Philippine infrastructure projects, which Sungshin is bidding to participate in as a concrete supplier. Holcim Philippines will serve as the priority supplier of cement and aggregates for Sungshin’s ready-mix concrete batching plants. 

Holcim Philippines Senior Vice President and Head of Infrastructure and Industrial Sales Ram Maganti said, “this strategic partnership is aligned with our goal to increase our participation in important infrastructure projects that advance the country’s development. With our combined expertise in innovative and sustainable building materials, we are confident in helping clients build lasting structures that uplift lives in the Philippines.” 

The agreement comes as the Philippines and South Korea signed an agreement in December 2022 that allows Manila to access up to $3 billion in official development assistance loans from Seoul for infrastructure and green projects. 

South Korea is the sixth largest provider of official development to the Philippines in 2021 and has funded a number of important infrastructure projects nationwide such as the Jalaur River Multipurpose Dam in Iloilo, the expansion of the Cebu International port, and the Panguil Bay Bridge connecting Misamis Occidental and Lanao del Norte. 

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