SUMMARY
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The Aboitiz Group and its Japanese partner are set to expand the West Cebu Industrial Park (WCIP), which is expected to create thousands of new jobs for communities in the coastal municipality of Balamban, Cebu.
Cebu Industrial Park Developers, Incorporated (CIPDI) – a joint venture between Aboitiz and the Tsuneishi Group – is the developer of WCIP, which will be expanded by 30 hectares in 2022. The ground breaking for the project is set for next year.
Rafael Fernandez de Mesa, First Vice President for Operations of the Aboitiz Integrated Economic Centers, said in a press statement that their vision is “to transform WCIP into a fully integrated economic center that will spur further economic growth in the area.”
He likened this to their other developments: LIMA Estate in Batangas and Mactan Economic Zone II in Lapu-Lapu City, Cebu.
“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,” added De Mesa.
Despite economic conditions worsened by the COVID-19 pandemic, the Aboitiz Group believes the expansion project would attract locators seeking more industrial spaces, and the development of commercial centers, transport terminals, dormitories, and even leisure components for tourists.
Eduardo Aboitiz, Vice President for Business Development of the Aboitiz Integrated Economic Centers, welcomed Advanced Catamaran Composites as its third shipbuilding firm in WCIP.
“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,” Aboitiz said.
“WCIP is only set to grow further, and now is the perfect time to invest here,” he added.
CIPDI began developing WCIP in 1992. which later turned Balamban into the shipbuilding capital of the Philippines. WCIP is strategically located on the west side of Cebu, known to be a major industrial belt due to its proximity to various access points.
The initial success of WCIP enabled the estate to grow from 202 to 540 hectares. More than 14,000 skilled workers have been employed by its industrial and commercial locators.
WCIP now forms a portion of the 540-hectare property in Balamban which hosts 11 locators from medium to heavy industries within its allocated 283-hectare Philippine Economic Zone Authority (PEZA)-registered zone. – Rappler.com
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