MANILA, Philippines — An expansion of the First Philippine Industrial Park (FPIP) is under consideration, which will involve the addition of residential and commercial areas around the manufacturing hub, according to the Department of Trade and Industry (DTI).
Established in 1996, the FPIP is a joint venture between Sumitomo and local conglomerate First Philippine Holdings (FPH).
In a statement, the DTI said the FPIP operator bared its plans for the more than 500-hectare industrial park in Batangas following a meeting with company representatives earlier last week.
“Both parties discussed the expansion of FPIP to attract high-value manufacturing industries, including research and development centers and data centers,” the DTI said.
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“Additionally, Sumitomo Corp. is exploring the development of residential and commercial areas around the park to enhance the lives of employees and the surrounding community,” it added.
Trade Secretary Alfredo Pascual, together with other Cabinet secretaries, on Wednesday met with Yukihito Honda, CEO and managing executive officer of Sumitomo’s Diverse Urban Development Group, and other company officials.
The DTI said the meeting provided a platform to acknowledge the company’s extensive footprint and outline strategic plans for continued collaboration.
Further, the trade department said that Sumitomo is also considering taking over the operations and maintenance of the Metro Rail Transit Line 3 through a concession framework that can potentially improve public transportation efficiency. INQ