Metropac Movers Inc., a wholly-owned subsidiary of infrastructure conglomerate Metro Pacific Investments Corp., is spending P8 billion to develop a world-class distribution facility in General Trias, Cavite province.
Metro Pacific said in a disclosure to the stock exchange it recently acquired a 202,000-square meter property Cavite owned by Property Company of Friends Inc. for P2 billion.
Metro Pacific said Metropac would use the property to develop and manage distribution centers for existing and potential clients in the fast-moving consumer goods, consumer durables, automotive and e-commerce spaces.
Metropac plans develop the property into 141,000 sq. m. of covered warehouse space and purchase the equipment to serve its clients.
“This purchase complements the 522 brand new trucks acquired by MMI in the 4th quarter of 2017 and existing leased warehouse space totaling 207,000 sq. m. across Luzon, Visayas, and Mindanao,” Metro Pacific said.
Metro Pacific said Metropac also planned to purchase another 300,000 sq. m. of land in Bulacan also for logistics operations.
“It will fulfill a much-needed function in today’s fragmented logistics market where resources to efficiently track and deliver goods to all parts of the Philippine archipelago are still lacking,” Metro Pacific said.
“In doing this, Metropac also contributes to nation-building by providing employment to residents of Cavite and Bulacan, up to 7,000 employees upon project completion, in addition to the 2,400 employees that are currently operating MMI’s existing warehouses and owned trucks,” it added.
Metro Pacific made its initial foray in the logistics business in 2016 when it acquired the assets of mid-sized corporate logistics provider Basic Logistics for P2.17 billion due to strong demand for logistics services in the country.