Japan firm to expand in LIMA Estate–aic

ABOITIZ Infracapital (AIC), the infrastructure arm of the Aboitiz group, and the Philippine economic zone Authority (Peza), signed an agreement with Kurabe Industrial Philippines.

The Japanese manufacturing company will invest P2 billion for its expansion within AIC’S LIMA estate.

The amount will be used for land, the acquisition of factor y equipment, and the eventual construction of the facility which is slated to break ground in 2024.

Upon completion, Kurabe’s factory is expected to recruit a 2,000head workforce from Batangas and its adjacent areas. The facility will manufacture and assemble primarily Kurabe’s automotive products, such as car seat heaters and wiring, and steering wheel heaters and wiring.

“Considering the strategic location of LIMA estate, the incentives we get with our registration to Peza, and Aboitiz Infracapital’s readiness and expertise to cater to foreign locators, we have decided that the Philippines is the best location to disperse our business,” Kanazawa Takenobu, Kurabe Co., Ltd.’s CEO and President said in a statement. The Aic-kurabe deal, signed in Tokyo, Japan last november during the Philippine business delegation’s Japan roadshow, follows the registration agreement between Peza and Kurabe, which classified the Japanese company as an ecozone export enterprise.

The deal with AIC includes Kurabe’s purchase of a 5.9-hectare property within the 800-hectare LIMA estate in Batangas, which offers industrial lots to foreign and domestic companies interested in expanding operations in the country.

“AIC shares the success of this deal with Peza and our partners from the Department of Trade and Industry (DTI). On behalf of the Philippine delegation at the Japan Business roadshow, we welcome Kurabe Industrial to the Philippines, and to LIMA estate,” said AIC economic estates Head rafael Fernandez de Mesa.