The Linde Group has reportedly committed to infuse fresh investments of up to PHP3.5bn in the Philippines over the next five years, to meet the increasing demand for its products and services and potentially step-up investment further in the future.
Linde is the majority owner of Consolidated Industrial Gas Inc. (CIGI) and Southern Industrial Gases Philippines Inc, the two leading manufacturers and suppliers of industrial and medical gases in the country.
Sanjiv Lamba, Managing Director for South and Southeast Asia of Linde Gas Pte. Ltd, noted that the additional investments would be on top of the P1.3bn outlay to expand the group’s two local units and commented, “The Philippines is a substantial business for Linde. A lot of the growth in Asia is coming from the Philippines.”
The group is believed to be spending around P1bn (Peso currency)for a new plant in Cebu to the east of Negros Island for Southern Industrial, and another P300m to expand and upgrade the existing plant of CIGI in Sta. Rosa, Laguna.
Lamba explained, “We are formulating a strategy for the Philippine operations over the next five years, and depending on the growth of our customers, we are keeping our options open on possible expansion projects.”