The Board of Investments said Thursday it approved three expansion projects in the manufacturing sector with a combined cost of P6.95 billion.
The agency said it approved the P3.99-billion project of San Miguel Yamamura Asia Corp. as an expanding producer of glass containers, the P2.86-billion project of Philippine Resin Industries Inc. for the manufacture of suspension-type polyvinyl chloride or PVC resins and Metalcast Corp.’s P100-million project as an expanding producer of aluminum die cast parts for motorcycle and automotive parts.
“Investor confidence is real. The Philippines continues to be a magnet for investments, and this is due to the country’s improving business environment, sound macroeconomic policy, political stability, favorable demographics, and of course, our people, who have always been the country’s prime asset in attracting foreign investments,” said Trade Secretary and BoI chairman Ramon Lopez.
SMC Yamamura is putting up a new glass facility in a 32,000-square-meter lot in its existing plant in Imus, Cavite.
The company will upgrade to the latest machinery and equipment in the glass manufacturing industry with some technological innovations/improvements to the existing facility.
The plant will expand by an additional 92,517 metric tons per year from the existing 145,701 MTPY capacity. It will produce all kinds of container glasses with sizes ranging from 45ml to 1250ml.
The expansion of SM Yamamura aims to address the increasing demand for glass packaging products in the country and export markets.
Philippine Resin’s P2.86-billion expansion in its plant in Mariveles, Batan will provide an additional 120,000 MT to its current annual 100,000 MT capacity. Formal operation is expected to start January 2019.
The firm will use a state-of-the-art technology acquired through a licensing agreement with Japan-based Tosoh Corp., one the largest chemical and specialty materials companies in Asia.
The P100-million expansion of Metalcast Corp. involves the installation of additional facilities and equipment to add 1,800 MT to the annual existing 2,850-ton capacity in its existing plant in Carmona, Cavite for export to clients based in Thailand and Japan.
The expansion officially started in January 2018 with an additional 75 personnel to support the facility.
Domestic clients of Metalcast include automotive and motorcycle assemblers located at the Philippine Economic Zone Authority.
