Premiere Horizon Alliance Corporation announces that its Board of Directors has approved a capital expenditure budget of P200 million for its subsidiary Redstone Construction and Development Corporation (RCDC). The CAPEX requirement is in support of RCDC’s substantial increase in service mining contracts for the next three years. As of November 2014, RCDC has hauled and mined a total of 767,412 WMT.
RCDC is a 67% subsidiary of Premiere Horizon primarily engaged in contract mining and construction works for mining, real estate development, environmental protection & remediation projects including quarrying, hauling, earthmoving and heavy equipment rentals and all other earthmoving works. RCDC has been doing mining contracts for Marcventures Inc. and other mining companies since 2011.