THE Board of Investments (BoI) said Mabuhay Vinyl Corp. (MVC) has invested P630 million to expand production capacity in Iligan City by 68%.
In a statement on Monday, the BoI said that the company, the Philippines鈥 sole chlor-alkali producer, hopes to service growing demand for caustic soda and chlorine.
Caustic soda and chlorine are used in the production of laundry bleach, soap, and detergents.
鈥淲e recognize MVC鈥檚 role in nation-building as the prime supplier of organic and inorganic compounds needed by many industries to transform natural raw materials into consumer goods that are important in daily life,鈥 BoI Executive Director for Investments Promotion Services Evariste M. Cagatan said.聽
The expansion upgrades the company鈥檚 Ion Exchange Membrane Plant 2, which supplies crucial raw materials for consumer goods.
The works include improvements to its marine-tanker capacity and depot facilities to upgrade the facility鈥檚 distribution capabilities.
The upgrades include the adoption of energy-efficient technology, which promise to reduce power and steam consumption and carbon emissions, in line with government sustainably goals.
鈥淭his upgrade will not only enhance our operational efficiency but also increase our capacity by 68%,鈥 MVC President and Chief Operating Officer Steve Pangilinan said.
鈥淚 am excited about the potential for more projects that will enhance MVC鈥檚 competitiveness in the industry,鈥 he added.
According to the BoI, MVC is the only company in the Philippines that produces chlorine in commercial quantities. It also supplies over 50% of the country鈥檚 sodium hypochlorite needs.
鈥淥ur challenges will continue until we meet the growing demand in the Philippines,鈥 MVC Chairman and Chief Executive Officer Yohei Chikamoto said.
鈥淔or that to be realized, we need seamless support from our authorities and shareholders, as well as consistent efforts by our dedicated employees,鈥 he added. 鈥 Justine Irish D. Tabile
