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MANILA, Philippines – The planned expansion of Lufthansa Technik Philippines (LTP) will bring the Philippines closer to its goal of becoming an areospace hub in the Asia Pacific, the Department of Trade and Industry said on Friday, July 19.
Lopez supported the expansion plans of the aircraft maintenance, repair, and overhaul (MRO) company when he met with LTP executives earlier this month.
"These expansions, he said, will help the Philippines to become an aerospace and MRO hub in the Asia Pacific," the DTI said in a statement.
LTP plans to expand its existing 229,000-square meter lot in Villamor Air Base by another 9,000 sqm. The $40-million expansion project, to be completed 13 months after the contract is awarded, is expected to create 300 new jobs.
LTP also has operations in Aklan, Cebu, Davao, Palawan, and Pampanga.
“The Philippines is positioning itself as the hub for aerospace manufacturing and aftermarket services in the Asia Pacific Region. We have the young, educated, and highly-trainable workforce that is a boon to investors," Lopez said.
During the meeting with Lopez and other DTI officials, Lufthansa president and CEO Elmar Lutter said that "the competitive advantage of the Philippines is its people" as he noted that Filipinos are known around the world as skilled aircraft mechanics.
The DTI earlier held a dialogue with a French delegation in hopes to improve ties in the aerospace industry. – Rappler.com