SUBIC BAY FREEPORT – More manufacturing companies and light to heavy industries are expected to locate in this premier Freeport, as the Subic Bay Metropolitan Authority (SBMA) approved the development of a 982-hectare industrial estate at Subic’s Redondo Peninsula.
SBMA Chairman Martin B. Diño and SBMA Administrator Wilma T. Eisma announced the approval of the US$798-million project proposed by Dynamic Konstruct International ECO Builders Corp. (DKIEBC), a duly-registered enterprise inside the Subic Bay Freeport Zone.
“This project is our answer to the inquiry of investors looking for thousands of hectares of flat land for manufacturing and light to heavy industries inside the Subic Bay Freeport Zone,” Chairman Dino said during the State of the Freeport Address (SOFA) hosted by the Subic Bay Freeport Chamber of Commerce (SBFCC) last Monday.
He added that the SBMA has been conferring with nearby local government units to identify more areas suitable for the development of industrial estates that will be under the Subic Bay Freeport’s tax- and duty-free regime.
Administrator Eisma meanwhile pointed out that the proposed solar farm and industrial city, when fully realized, will generate about 50,000 new jobs.
“When the Subic Naval Base closed down in 1992, we were all so depressed to be losing the 35,000 jobs generated by the US Navy. But under the SBMA we have long surpassed those numbers— as of February 2017 our active workforce within the Freeport is 115,272—and we keep on working to bring about more employment,” she added.
The SBMA officials also clarified that out of the $798-million investment commitment, the DKIEBC will spend about $300 million for the proposed 402-hectare solar farm, which is designed to produce 200 megawatts of green energy to primarily supply the proposed 580-hectare industrial city.
The industrial city project will include commercial buildings, factories, warehouses, utilities for water and electricity, fire and law enforcement facilities, and sanitation and landfill facilities.
According to DKIEBC, the solar farm shall primarily benefit the investors and locators of the industrial city with green and low-cost energy supply and reduce the risk of exposure from the spot market. –Dante Salvana