BOI approves P6.9B manufacturing projects

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In a statement on Thursday, BOI named these as Metalcast Corp.’s P100- million project to expand production of aluminum die cast parts for motorcycles and automobiles; Philippine Resin Industries Inc.’ s ( PRII) P2.86billion project to make suspension type polyvinyl chloride ( PVC) resins; and San Miguel Yamamura Asia Corp.’s (SMYAC) P3.99-billion project to expand production of glass containers.

“Investor confidence is real. The Philippines continues to be a magnet for investments, and this is due to the country’s improving business environment, sound macroeconomic policy, political stability, favorable demographics, and of course, our people, who have always been the country’s prime asset in attracting foreign investments,” Trade Secretary and BOI Chairman Ramon Lopez said.

These projects are “expected to sustain the growth momentum of manufacturing from last year, as the sector posted robust growth in terms of investments to meet not only strong domestic demand, but also” increase the sector’s exports, Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.

Manufacturing investments rose by 95 percent to P96 billion in 2017 from P49.3 billion the year before, according to the investments board.

Metalcast’s project involves adding facilities and equipment in its plant in Cavite province’s Carmona town to manufacture an additional 1,800 tons of motorcycle and automotive parts. It currently produces 2,850 tons. The plant began operations in January.

Its clients include automotive and motorcycle assemblers at the Philippine Economic Zone Authority ( PEZA). At least 60 percent of the parts are exported to Thailand and Japan.

PRII’s project involves expanding its plant in Mariveles town, Bataan province, and increase its annual 100,000 metric-ton (MT) capacity to 220,000 MT.

The firm will use technology acquired through a licensing agreement with Japan- based chemical and specialty material

This technology will improve PRII’s production of K65 resins with processes expected to cut batch cycle and polymerization time.

These resins are used to manufacture pipes and account for nearly 60 percent of its market.

Its operations are expected to start next January.

SMYAC’s project involves constructing a new building and glass facility on a 32,000-square meter lot in its plant in Imus town, Cavite province.

Once finished, the company would manufacture containers ranging from 45 millimeters to 1250ml and add 92,517 MT to its current 145,701 MT production capacity. This project aims to address growing demand for glass packaging products. About 60 percent of these are for local beverage companies, and the rest are exported to wine and food producers in Australia and New Zealand.

The plant is set to operate next March.