SPPI plans industrial park development in New Clark City
The signing of the 50-year lease agreement with the Science Park of the Philippines, Inc. (SPPI) for the development of a 100-hectare industrial park in New Clark City was led by BCDA President and CEO Joshua Bingcang (fourth from right). Joining Engr. Bingcang were SPPI chairperson Guillermo Luchangco (second from left), SPPI president and CEO Richard Albert Osmond (fourth from left), SPPI executive vice president Noel Neric (third from left), BCDA Officer-in-Charge for Conversion and Development Group Mark Torres (third from right), BCDA Vice President for Business Development Mary Grace Perez (second from right), and BCDA Vice President for Investment Promotions and Marketing Department Erwin Kenneth Peralta (first from right).
Bases Conversion and Development Authority (BCDA)
Science Park of the Philippines, Inc. (SPPI) has partnered with the Bases Conversion and Development Authority (BCDA) to develop a 100-hectare industrial park in New Clark City, Capas, Tarlac, which is expected to create 30,000 new jobs and generate more revenue for the national government.
Last week, SPPI and BCDA signed a 50-year lease agreement for the development of the industrial park within the rising metropolis, with a total investment commitment of P30 billion from the industrial estate leader and its locators.
SPPI is known for its innovative and sustainable industrial parks, with six premier sites across Central and Southern Luzon, and Central Visayas that serve both local and multinational enterprises.
“At the heart of this partnership is a common goal: to create jobs and empower the local economy. By developing this industrial park, the project is set to open up thousands of job opportunities, not just in construction and manufacturing but across a variety of industries,” said BCDA President and Chief Executive Officer Engr. Joshua Bingcang.
The ambitious project is expected to create approximately 30,000 new jobs, spanning various sectors such as food production, textiles, automotive parts, electric vehicles, semiconductors, and data centers, contributing significantly to the area’s sustained economic development.
Further, the project is also poised to generate an estimated P1.9 billion in income tax revenues for the national government, contributing substantially to the national economy by supporting public funds for nation-building projects.
SPPI chairperson Guillermo Luchangco expressed gratitude for the trust and confidence placed in SPPI by the BCDA in awarding the project. With a clear commitment to surpassing expectations, Luchangco reaffirmed his firm’s goal of delivering a development that would not only meet but ideally exceed, the standards set forth.
"We feel that in our modest way, we have been able to contribute to the economic growth of the Philippines by putting up world-class industrial estates, which enable us to attract manufacturing and technology companies to set up shop in our country," Luchangco said.