DMCI Holdings Inc., which is acquiring the publicly listed cement manufacturer Cemex Holdings Philippines (CHP), is hopeful that the administration’s infrastructure program and the easing of monetary policy will help turn around CHP’s financial performance.

“While cement demand is currently soft, we expect it to rebound as our turnaround plan progresses, supported by the Build Better More program and the anticipated easing of interest rates next year,” DMCI Holdings chairman and president Isidro Consunji said in a disclosure to the Philippine Stock Exchange (PSE).

DMCI Holdings is acquiring CHP after buying the latter’s parent company Cemex Asian South East Corp. (Casec) for $305.6 million (P17.6 billion). Casec owns 89.86 percent of CHP.

DMCI Holdings said this acquisition is its first in a decade and also its largest investments to date.

Moreover, Consunji said the company eyes a turnaround in CHP’s operational and financial performance by 2025 with the cement producer’s ongoing expansion and synergies with DMCI Holdings’ subsidiaries.

Currently, CHP is constructing an integrated cement production line at its Solid Plant in Antipolo, Rizal. It will have a capacity to produce 1.5 million tons of cement.

Once operational, the new production line will double CHP’s production capacity in Luzon and boost its installed and production capacity by 26 percent from 5.7 million tons to 7.2 million tons.

The new facility is expected to begin its commercial operations in September this year.