Aboitiz Infra allots P2B for expansion

ABOITIZ InfraCapital (AIC) is investing P2 billion to expand its economic estates across the country, its top official said.

The company has been developing economic estates in the country primarily in Batangas and Cebu, which provides jobs to about 100,000 Filipinos, said Rafael de Mesa, Aboitiz InfraCapital Economic Estates head, during the Laging Handa Briefing on Tuesday.

AIC has been going out on investment missions to Korea, most recently in Japan, to work with the government to attract investments and bring them into the country. Along with the Philippine Economic Zone Authority, it recently signed a memorandum of understanding with Japan’s Junca Global Partner Inc. and a registration agreement with Kurabe Industrial Philippines Inc.

“Currently, Aboitiz is investing about P2 billion in expanding its economic estates. As we’re able to attract new investments, the amount of the investment will depend on the individual company, the size of their facilities, as well as the type of business,” de Mesa said.

He highlighted the 150 hectares of ongoing expansion at LIMA Estate in Lipa-Malvar Batangas. And another 50-hectare expansion in West Cebu Estate in Balamban, Cebu.

“We’re also very interested in attracting companies that are not just exporting their products but also want to take advantage of our population and serve the domestic market as well,” he added.

AIC remains committed to work with the government on its drive to bring investments for the country “by showcasing what the private sector has to offer that companies are looking to set up in the Philippines.”