JARDINE Matheson Holdings, through its subsidiary Jardine Davies, will double its Philippine holdings from US$300 million to $600 million over the next few years.
The group announced yesterday it would open its expansion programme with a $100 million enlargement of Republic Cement Corp (RCC), a major Philippine cement plant which was 29 per cent owned by the group.
RCC would expand its Bulacan cement manufacturing plant to increase production from 14 million bags per year to 30 million bags.
Jardine would also start joint ventures with foreign companies such as Trafalgar House, a leading Asian construction company with a $530 million turnover.
Jardine Matheson managing director Alasdair Morrison said in Manila the group needed to have a fresh look at the Philippines in relation both to new and existing activities.
The additional investment would be poured into build-operate-transfer infrastructure programmes, sugar mills and insurance.
