Haycarb to set up activated carbon plant in Philippines with $ 8 m initial investment

Wednesday, 11 December 2024 00:26 - - {{hitsCtrl.values.hits}}

Haycarb PLC is to set up an activated carbon plan in the Philippines with an initial investment of $ 8 million.

In a disclosure to the Colombo Stock Exchange, Haycarb said that fully owned subsidiary Haycarb Philippines Corporation has obtained approval from the Board of Investments (BOI) of the Philippines to establish an activated carbon manufacturing facility in Cagayan de Oro, Philippines.

“The estimated investment for Phase I of the project, expected to be completed by June 2026, is approximately $ 8 million,” Haycarb said.

“This project, with plans for further expansions in the next 5 to 6 years, expanding Haycarb’s global manufacturing footprint, aligns with its growth strategy, enabling the company to effectively meet the increasing demand and strengthen its presence in the international market,” Haycarb qadded..