Diversified conglomerate San Miguel Corp. said Thursday it plans to build an industrial estate in Mandaue City, Cebu, as a part of its commitment to boost manufacturing in the country and generate employment outside the capital.
San Miguel said in a statement the project, which would be jointly undertaken with the city council of Mandaue, would house a processed foods plant, feed mill and other manufacturing facilities. It will also have its own port terminal.
“We look forward to growing our presence in Mandaue City. This major development is an important part of San Miguel’s current expansion in key regions nationwide,” said SMC president and chief operating officer Ramon Ang.
“Our aim is to support and accelerate our country’s economic development by investing in strategic and emerging growth areas. With this investment, we hope to help accelerate the city’s and the region’s overall growth and bring more jobs to our countrymen here,” Ang said.
Mandaue City Mayor Luigi Quisumbing and the city council said they welcomed the interest from SMC to invest in the city.
“It’s a strong validation of Mandaue City’s status as a premiere investment destination not just in Cebu and the Visayas, but the entire country,” Quisumbing said.
This will be the second industrial estate to be developed by San Miguel in the country.
The conglomerate is currently developing a 2,000-hectare industrial estate in Davao, which is expected to attract both local and foreign small, medium and large business locators.
The Davao industrial estate will initially house San Miguel’s 600-megawatt power generation facility and planned packaging plant.
San Miguel, Southeast Asia’s largest food, beverage and packaging conglomerate, diversified into non-allied but strategic industries that are key to the country’s growth.
Various property consulting firms earlier said that there has been a significant pickup in manufacturing activities in the Philippines over the past couple of years.
The demand is mostly coming from companies engaged in light manufacturing, accounting and logistics.
Several foreign investors are also looking for alternative sites in Asean due to rising wages in China. Share price of San Miguel fell 1.5 percent Thursday to P96.60.