Haycarb PLC has announced plans to set up an activated carbon manufacturing plant in the Philippines with an initial investment of $8 million.
According to a disclosure to the Colombo Stock Exchange, the fully owned subsidiary, Haycarb Philippines Corporation, has received approval from the Board of Investments (BOI) of the Philippines to establish the facility in Cagayan de Oro.
The first phase of the project, estimated at $8 million, is slated for completion by June 2026. Haycarb stated that the initiative is part of its long-term growth strategy, with plans for further expansions over the next five to six years. The project will bolster Haycarb’s global manufacturing footprint, enabling the company to meet rising demand and strengthen its presence in international markets.
“This expansion aligns with our strategy to meet increasing global demand effectively while enhancing our presence in the international market,” Haycarb noted in its announcement.