Present during the signing ceremony were SPPI Chairperson Guillermo D. Luchangco, SPPI President and CEO Richard Albert I. Osmond, SPPI Executive Vice President Noel Neric, BCDA Officer-in-Charge Senior VP for Conversion and Development Group Mark P. Torres, BCDA VP for Business Development Mary Grace C. Perez, and BCDA VP for Investment Promotions and Marketing Department Erwin Kenneth R. Peralta.
Science Park of the Philippines Inc. (SPPI), a leading private industrial estate developer in the Philippines, is investing P30 billion to develop a 100-hectare industrial park in New Clark City, according to state-run Bases Conversion and Development Authority (BCDA).
In a statement on Thursday, BCDA said it signed a 50-year lease agreement with SPPI last January 23 to develop the industrial park within the metropolis.
This industrial park, it added, is seen to create 30,000 jobs and generate more revenue for the national government. Meanwhile, BCDA President and CEO Joshua M. Bingcang said this project is expected to open thousands of job opportunities across a variety of industries.
“At the heart of this partnership is a common goal: to create jobs and empower the local economy. By developing this industrial park, the project is set to open up thousands of job opportunities, not just in construction and manufacturing but across a variety of industries.”
The state-run agency said the project is expected to create approximately 30,000 new jobs, spanning various sectors such as food production, textiles, automotive parts, electric vehicles, semiconductors, and data centers. BCDA said it is also poised to generate an estimated P1.9 billion in income tax for the national government, “contributing substantially to the national economy by supporting public funds for nation-building projects.”
SPPI Chairperson Guillermo D. Luchangco expressed gratitude to BCDA for awarding the project. The state-run agency said Luchangco “reaffirmed his firm’s goal of delivering a development that would not only meet, but ideally exceed the standards set forth.”
“We feel that in our own modest way, we have been able to contribute to the economic growth of the Philippines by putting up world-class industrial estates which enable us to attract manufacturing and technology companies to set up shop in our country.”
According to BCDA, the industrial estate developer has six “premier” sites across Central Luzon and Southern Luzon and Central Visayas that serve both local and multinational enterprises.
