San Miguel ventures into industrial estate dev’t
Bilyonaryo Ramon S. Ang’s San Miguel Corp. wants to cash in on the industrial estates segment amid strong demand from local companies for zones to locate in, and as foreign firms look for alternative sites amid rising wages in China.
The Standard reported San Miguel is developing a 2,000-hectare property in Davao del Sur into an industrial estate and is now inviting potential investors from diverse business sectors to locate their facilities there.
The zone already has the blessing of the Philippine Economic Zone Authority.
The company said this was part of a commitment “to develop second-tier cities as growth engines for the Philippines through infrastructure development along with investment and employment generation.”
As an enticement, the company said its Davao Industrial Estate offers strategic site with easy access through the Davao City and General Santos City international airports and Davao seaport.
It also offers low long-term lease rate, growing skilled workers, a 20-meter deep international port to accommodate container vessels, and a private airport.
A 600-megawatt coal-fired power plant in Malita, Davao Occidental, owned by San Miguel, is also expected to partially go on stream by the second quarter of the year.