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Manila Bulletin devider Business devider Trade & Industry devider Chinese manufacturer to build P300-M facility in LIMA Estate

Chinese manufacturer to build P300-M facility in LIMA Estate

Published Dec 12, 2023 06:04 am

China-based manufacturing firm Steelwell Industrial Hardware has chosen Aboitiz InfraCapital Economic Estates-developed property LIMA Estate as the site of its soon-to-rise 1.5 hectare manufacturing facility worth P300 million.

The company, based in Shenzhen, China, specializes in high-precision metal products for the industry sector with clients from across the globe. 

According to Aboitiz InfraCapital, Steelwell has invested around P300 million for the facility’s development at LIMA Estate. 

A groundbreaking ceremony was held to mark the beginning of the facility’s construction. It was participated in by Clifford Academia, Vice President for Operations at LIMA Estate. 

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The growing number of Chinese investors within Aboitiz InfraCapital's Economic Estates serves as a testament to the excellence of its world-class facilities and services. Clifford Academia, Vice President for Operations at LIMA Estate (second from the right), participated in the groundbreaking ceremony for Steelwell Industrial Hardware's facility at LIMA Estate, emphasizing the continued growth and investment within the estate.

LIMA Estate, located in the towns of Lipa and Malvar, Batangas, is a 700-hectare green integrated industrial complex that serves 150 global companies. It is registered to the Philippine Economic Zone Authority (PEZA), with a Central Business District (CBD), retail establishments, hotels, and residential properties aside from office spaces. 

Rafael Fernandez de Mesa, Head of Aboitiz InfraCapital Economic Estates, emphasized the company’s aim to continue cultivating the partnerships between industry stakeholders in the Philippines and China, hosting Chinese firms in its economic estates in Batangas and Cebu to boost investments and revenues. 

“Our core expertise lies in the creation of infrastructure ecosystems that are meticulously designed to ensure seamless operations for all businesses. These developments are strategically positioned near major seaports, airports, and a well-developed road network, each complemented by world-class power and water facilities, owned and operated by the Aboitiz Group,” said Fernandez de Mesa. 

China-based electronics company Grandsjn Advanced Electronics (Philippines) Co. Inc. has already set up shop at the LIMA Estate, and will expand with two more audio devices factories in 2025. To date, its investments in production facilities amount to over P3 billion. 

Board of Investment Managing Head Undersecretary Ceferino Rodolfo said the country is a “haven for Chinese investors interested in smart manufacturing and research and development (R&D) activities, among several other reasons, including its integral role in global supply chains, a highly skilled English-speaking workforce, and its robust and stable economic growth compared to our ASEAN neighbors.”

In terms of smart and sustainable manufacturing, Rodolfo said the Department of Trade and Industry (DTI) is promoting the country as a regional hub for these services especially to Chinese businesses venturing in renewable energy, electric vehicles, advanced high-tech manufacturing, semiconductor assembly and testing, high-tech agriculture, and telecommunications.

DTI maintains that the partnership of the two nations would strengthen with the Regional Comprehensive Economic Partnership (RCEP) which would facilitate more efficient trading and investment flows. 

 

 

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