Cebu Industrial Park Developers, Inc. (CIPDI) is set to develop an additional 30 hectares within its 540-hectare property in Balamban to serve the strong demand for industrial space from both foreign and local companies.
In a statement, CIPDI said the 30 hectares will be added to the 283-hectare economic zone called West Cebu Industrial Park (WCIP), which currently hosts some of the biggest shipbuilding firms in the world.
CIPDI, a joint venture between the Aboitiz Group and the Tsuneishi Group of Japan, said the 30 hectares will be developed over the next three years.
It will provide more industrial spaces, commercial centers, transport terminals, dormitories, and even leisure components for tourists. New locators and businesses that will be brought in are expected to yield up to 5,000 new jobs for the community.
“Our vision is to transform WCIP into a fully integrated economic center that will spur further economic growth in the area, similar to our two developments LIMA Estate in Batangas and Mactan Economic Zone II in Lapu-Lapu City, Cebu,” Rafael Fernandez de Mesa, first vice president for operations of the Aboitiz Integrated Economic Centers, said.
“With its strategic location, skilled population, lower cost of doing business, and well-established ecosystem of infrastructure, we believe that WCIP is the ideal location for light, medium, and heavy industries looking to expand or locate in Cebu,” he added.
CIPDI said it has been in talks with several potential locators amid the coronavirus pandemic for the last few lots in the WCIP.
The ecozone is registered with the Philippine Economic Zone Authority (PEZA).
It recently landed Advanced Catamaran Composites, its third shipbuilding firm, which is targeting to start its operations in the first quarter of next year.
“We are excited to have Advanced Catamaran Composites as our newest locator in the West Cebu Industrial Park. With our 30-hectare expansion set to break ground next year, we are hoping to attract more locators to Balamban,” Eduardo Aboitiz, vice president for business development of the Aboitiz Integrated Economic Centers, said.
WCIP transformed the town of Balamban along Cebu’s western seaboard into the shipbuilding capital of the country.
It now hosts 11 medium to heavy industries that employ more than 14,000 skilled workers.
As a special economic zone, import and export businesses in WCIP enjoy tax incentives and other privileges. It also offers a secure location and ease of doing business. (Ventures Cebu)