PHILIP Morris International (PMI) announced its plans to invest an additional $150 million in capital to its Philippine affiliate Philip Morris Fortune Tobacco Corp. (PMFTC) to add manufacturing lines that will produce specially designed heated tobacco sticks for its smoke-free products.

The cigarette company said the new investment is planned to expand PMFTC's existing cigarette manufacturing facility in Tanauan City, Batangas. The expansion program is expected to span a two-year period with actual production seen to start in the fourth quarter of 2023. The investment is also the first major one by a tobacco multinational in the category domestically.