Marcos leads opening of JG Summit’s expanded petrochem complex
President Bongbong Marcos at the inauguration of JG Summit’s expanded petrochem complex in Batangas. | INQUIRER.net / Jean Mangaluz
MANILA, Philippines — President Ferdinand Marcos Jr. on Friday led the inauguration of the expanded JG Summit Petrochemicals manufacturing complex in Batangas.
The Gokongwei-led conglomerate is the largest manufacturer of polyolefins in the country, which is a type of thermoplastic material used in the production of food packaging, water bottles and others.
“What you have built here is more than a cutting-edge technology. It is a testament to Filipino skill, a proof of business confidence, an example of manufacturing resurgence, and a realization of the vision of a great Filipino industrialist, patriot John Gokongwei,” said Marcos in his speech.
Marcos said the late tycoon’s story is a tale of guts and grit.
According to the President, the newly minted complex will also boost other industries, supplying materials to housing, and packaging, among others.
READ: JG Summit infuses P11B into petrochem subsidiary
Marcos toured the 160-hectare facility in Batangas together with JG Summit Holdings Inc. Chairman James Go, as well as company President and Chief Executive Officer Lance Gokongwei.
According to Gokongwei, the expanded manufacturing complex cost P150 billion to build.
READ: JG Summit sets expansion of petrochem complex
“This manufacturing complex, built at a cost of over P150 billion and completed through the twists and turns of close to three decades, represents one of our largest investments in a single business,” said Gokongwei in his speech.
