Japan-based firm to invest P2Bn in Batangas ecozone expansion
MANILA, PHILIPPINES — Japanese manufacturing firm Kurabe Industrial Philippines will invest P2 billion (US$35.8 million) for its expansion within Aboitiz InfraCapital’s (AIC) LIMA Estate in Batangas.
According to an agreement signed between both firms, Kurabe will purchase a 5.9-hectare property within the 800-hectare LIMA Estate, which offers industrial lots to foreign and domestic companies interested in expanding operations in the country.
“Considering the strategic location of LIMA Estate, the incentives we get with our registration to PEZA, and Aboitiz InfraCapital’s readiness and expertise to cater to foreign locators, we have decided that the Philippines is the best location to disperse our business,” said Kurabe Co., Ltd. CEO and President Kanazawa Takenobu.
AIC Economic Estates Head Rafael Fernandez de Mesa, meanwhile, is sharing the success of this deal with the Philippine Economic Zone Authority (PEZA) and their partners from the Department of Trade and Industry (DTI).
“On behalf of the Philippine delegation at the Japan Business Roadshow, we welcome Kurabe Industrial to the Philippines and to LIMA Estate,” de Mesa added.
Kurabe Industrial’s new facility is slated to break ground in 2024. It is expected to recruit 2,000 workers from Batangas and its adjacent areas.
