Russian firm plans to invest in PH pipeline manufacturing facility
A Russian company plans to put up a pipeline coating facility in the Philippines, a move which will make the country its production hub in the region, trade officials said.
In a statement on Friday, the Department of Trade and Industry (DTI) said trade officials had met with investors of a company called BT SVAP LLC, discussing intentions to invest in a pipeline coating facility.
The meeting was held on Dec. 20.
The Moscow-based BT SVAP LLC is an integrated company specializing in the development and implementation of innovative solutions in industrial production and construction of pipeline system for fuel-power complex, chemical industry, and housing and utilities infrastructure.
The group also focuses on production of protective shelves for pipes and pipelines which uses modern hi-tech production and logistics facilities, as well as multifunctional design-engineering units.
According to DTI, BT SVAP LLC’s chair Igor Shaporin said that the company wants to put up the facility in Mariveles, Bataan “where accessibility to sea and land transportation is easily available.”
“This could be a pioneer technology in the country. Apart from investments, sharing of technological know-how, and employment generation, this will also open opportunities for our domestic market and export industry,” said Trade Secretary Ramon Lopez.
In a recent interview with reporters, Lopez said further details about the investment —such as project cost and its production capacity—were still under discussion.
Presidential Spokesperson Harry Roque also attended the meeting along with other DTI officials. Roque is not always part of DTI’s meetings with investors.
According to Trade Undersecretary Ceferino Rodolfo, the company finds it hard to transport its products from Russia to Asia, an inconvenience which pushed the company to set its eyes on the Philippines.
This comes as BOI registered P616.7 billion worth of investment pledges this year, its highest since the agency’s establishment five decades ago.
