By: Morexette Marie B. Erram – Multimedia Reporter – CDN Digital
Source: Cebu Daily News
CEBU CITY, Philippines — Expansion of the West Cebu Industrial Park in Balamban town is now underway, and it is expected to bring in an additional 14,000 jobs.
Executives from Aboitiz InfraCapital, the infrastructure arm of the Aboitiz Group, announced in a recent virtual media briefing that they are currently in the bidding and awarding phase for the planned expansion of West Cebu Industrial Park.
“In terms of development, we’re in the bidding and awarding stage. We’re still finalizing the capex (capital expenditures) figures and we cannot share as of the moment,” said Rafael Fernandez de Mesa, head of Aboitiz Economic Estates.
De Mesa said they were targeting the expansion project to be completed by 2023.
“There’s no timeline yet (as to when we will start construction for the residential and commercial components) but we’re looking at 2023 for the expansion to be completed,” he explained.
Once operational, it is projected to generate 14,000 more jobs.
“We project that once fully sold and built, there will be an additional 14,000 jobs created by new locators, that’s doubling the working population of the estate up to 28,000,” said De Mesa.
Based on earlier reports, Aboitiz plans to add another 30 hectares for West Cebu Industrial Park, which currently has a land area of 540 hectares. A mixed-use development, it will feature residential and commercial aspects, possibly including business process outsourcing (BPO) industries.
“The master plan allocated space for these types of products. As of this point, we will only roll out once the market is ready for that,” De Mesa added.
Aboitiz InfraCapital has earmarked P20 billion as its capex for 2022.
The bulk of this would be for its digital infrastructure business and expansion of economic estates, including West Cebu Industrial Park, said Cosette Canilao, president and chief executive officer (CEO) of Aboitiz InfraCapital.