FOUR LOCATORS are expected to set up shop in the expansion of West Cebu Estate (WCE), the Philippine Economic Zone Authority (PEZA) said.
In a statement on Wednesday, PEZA Director General Tereso O. Panga said that Aboitiz InfraCapital, Inc. (AIC) will expand the economic zone in Balamban, Cebu by 39 hectares.
“AIC announced that its 280-hectare PEZA-proclaimed area will expand by another 39 hectares,” Mr. Panga said in a social media post.
“This expansion project is expected to generate an additional 14,000 jobs with four new locator companies,” he added.
WCE currently hosts 23 locators employing 13,935 workers and generating $47.5 million in average monthly exports. Locators have thus far invested P35 billion.
With an estimated cost of P1.4 billion, the expansion is set for completion by the second quarter of next year. It is currently 80% complete.
Mr. Panga added that AIC’s 160-hectare TARI Estate in Tarlac City is also set to be registered with PEZA.
The P7-billion TARI Estate could become AIC’s fourth PEZA-registered ecozone, after the WCE, LIMA Estate in Batangas, and Mactan Economic Zone II in Lapu-Lapu City, Cebu.
AIC hosts 250 registered business enterprises across its ecozones, generating P155 billion worth of investment and over 100,000 jobs.
“(These include) global industry leaders such as Epson, Grandsun Advanced Electronics, Kinpo Electronics, Lear Philippines, JTI, Yamaha, Draka (Prysmian Group), and other big-ticket investors and strategic industries,” Mr. Panga said. — Justine Irish D. Tabile