CLARK FREEPORT – New investments worth P28.5 billion for this year have taken off the ground in this Freeport, the Clark Development Corp. (CDC) said in a report to the Board of Investments (BOI).
CDC president and chief executive officer Felipe Antonio Remollo said that the biggest investment that is already being realized this year is the P14.6 billion expansion of Yokohama, a tire manufacturer which has been undertaking a series of expansions.
Earlier, Remollo turned over to the national government some P100 million of its earnings for the previous year.
The CDC report to the BOI identified 16 investors which have started expansion or new projects worth P28.5 billion in this Freeport.
Donggwang Clark Corp., a tourism and recreational estate investor, has already implemented its 26.2-hectare project costing P6.06 billion, the report noted.
The Philippine Academy for Aviation Training, Inc, which will establish a school here for pilot and technical and vocational aviation-related education training, has already moved grounds covering 9,147 square meters for a project worth P1.7 billion.
The CDC report also noted that some P1.5 billion would be invested by the Eaglesky Amusement and Gaming Inc. in a hotel and casino complex covering 1.5 hectares.
Ingasco, Inc., is also building an “air separation plant” worth P1.5 billion, while Haitima, which makes precise pipe fittings, is investing P1.02 billion, the report noted.
The CDC also noted that Foton Motors, Phils. is establishing an automotive and truck assembly facility here at the cost of P860 million, while Viskase, which manufactures food cellulose packages, is pumping in P513 million in investments.
The SM Group of Companies is also set to expand its SM City mall here with an extension costing P500 million.
The CDC also noted that on top of the tourism estate that Donggwang is already constructing here, the Korean firm is also investing another P430 million for a light industrial, commercial and residential complex here.
The other firms investing hundreds of millions of pesos more but less that P430 million here were named in the CDC report as semi-conductor package manufacturer BI H&S with P349 million investments, semi-conductor micro-tolls maker SPT Clark with P285 million, aircraft parts maker Jamco Phils. Inc. with P172 million, pharmaceutical firm North Heaven Pharma with P137 million and lighting manufacturer Venzon Manufacturing Corp. with P107 million.
The CDC report also identified two other projects “on the pipeline”, including Hausland Development Inc. which will construct a mixed us commercial area costing P107.9 million and MSK Group Work Inc. which will put up a warehouse for suppliers of Chitai Industry Phils. and Multitek Fasteners, Inc., at the cost of P106.4 million.
