MANILA, Philippines — Cebu Industrial Park Developers Inc. (CIPDI), a joint venture between the Aboitiz Group and the Tsuneishi Group of Japan, is expanding the West Cebu Industrial Park (WCIP) to meet strong demand for industrial spaces from both local and foreign locators.
In a statement yesterday, Aboitiz Group said the expansion would cover 30 hectares of WCIP over the next three years, with more industrial spaces, commercial centers, transport terminals, dormitories, and even leisure components for tourists.
The amount of investment needed for the project, however, has yet to be finalized, the group said.
Located in Balamban, the WCIP covers 540 hectares, anchored by a 283-hectare Philippine Economic Zone Authority-registered zone.
WCIP hosts 11 locators, from medium to heavy industries, including some of the largest shipbuilding firms in the world.
As a special economic zone, locators in WCIP enjoy tax perks.
With the expansion, new locators and businesses are expected to create up to 5,000 new jobs for the community.
CIPDI has been in talks with potential locators for remaining lots in WCIP and recently secured the commitment of Advanced Catamaran Composites, which targets to start operations in the first quarter next year.
Advanced Catamaran Composites would be the third shipbuilding firm in WCIP.
“We are excited to have Advanced Catamaran Composites as our newest locator in the WCIP. With our 30-hectare expansion set to break ground next year, we are hoping to attract more locators to Balamban,” said Eduardo Aboitiz, vice president for business development of the Aboitiz Integrated Economic Centers.
“At Aboitiz, we are committed to making lasting partnerships with our locators by ensuring the ease of doing business and providing them with fully integrated solutions of infrastructure services such as power, water and land. WCIP is only set to grow further, and now is the perfect time to invest here,” he said.
Rafael Fernandez De Mesa, first vice president for operations of the Aboitiz Integrated Economic Centers, said they plan to develop WCIP into a fully integrated economic center to spur further economic growth in the area, similar to other developments such as Lima Estate in Batangas and Mactan Economic Zone II in Lapu-Lapu City.
“With its strategic location, skilled population, lower cost of doing business and well-established ecosystem of infrastructure, we believe that WCIP is the ideal location for light, medium, and heavy industries looking to expand or locate in Cebu,” he said.
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Article and Photo originally posted by Philippine Star last November 4, 2020 12:00am and written by Louella Desiderio.
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