Science Park of the Philippines Inc. of the ICCP Group is spending P4 billion to put up the Light Industry and Science Park IV in Malvar, Batangas, which will serve the rising demand of prospective and existing investors for industrial estates.
Guillermo D. Luchangco, chair and CEO of SPPI, said in a briefing yesterday that the 260-hectare project would be a township development. Of the total area, 200 hectares would be developed into an industrial park, the group’s fourth, while the remaining 60 hectares would be the residential and commercial area.
“The latest industrial project is in response to the strong demand from local and foreign companies. The fact that it was supposed to be only 150 hectares and was expanded to 260 hectares is a reflection of the strength of demand. The Light Industry and Science Park IV will be environmentally compliant and world class,” Luchangco said.
The Light Industry and Science Park IV will contain all the features that have made SPPI’s earlier industrial estates successful—including power, water supply and telecommunications facilities, park security, in-house fire fighting equipment and crew and its multi-awarded programs for environmental management and community development.
SPPI, the country’s leading industrial estate developer, retained the master planning services of US-based Sasaki Associates Inc. The company has already received the initial official approval for the project’s registration from the Philippine Economic Zone Authority, with the final approval to come from President Aquino.
The registration with Peza entitles an industrial park and its locators to various tax and other incentives, the company said.
Luchangco said SPPI was hoping to start selling the new industrial estate to locators within the year. The whole township may be completed in three years.