Japanese company, Kurabe Industrial, will be investing PHP 2 billion (USD 36.5 million) to expand its manufacturing facility in Lima Estate, Batangas province which is operated by Aboitiz InfraCapital (AIC).
The investment will be to purchase a 5.9-hectare plot of land within the Lima Estate, acquire equipment, and construct the facility, which is expected to break ground in 2024. The facility will manufacture and assemble Kurabe’s automotive products, such as car seat heaters and wiring, and steering wheel heaters and wiring. The company will also hire approximately 2,000 workers from Batangas and surrounding areas.
PEZA has registered and certified the company as an ecozone export enterprise, which entitles it to several government investment incentives. The AIC, the infrastructure arm of the Philippine conglomerate Aboitiz Group, will provide a full range of construction, power, and water utility services through its affiliates.
The AIC, which aspires to be a pioneer in smart and sustainable industrial development and operation in the Philippines, operates the 800-hectare Lima Estate as an industrial zone and will also invest PHP 2 billion (USD 36.5 million) to expand its economic estates throughout the country. Lima Estate now houses over 70 Japanese companies.
(Source: Philippine Star, Manila Times)