Cemex Philippines receives tax breaks for new production line at Solid Cement plant

cropped-Untitled-3.pngPhilippines: Cemex Philippines has received a set of tax breaks and financial incentives for the new 1.5Mtyr production line it is planning to build at its Solid Cement plant in Antipolo, Rizal.

Its subsidiary Solid Cement has obtained ‘pioneer’ status from the Board of Investment (BOI) but with ‘non-pioneer’ incentives, according to the Inquirer newspaper. This means that the project may be able to benefit from a longer income-tax holiday. The new production line is scheduled to be operational by early 2020.