CEBU Industrial Park Developers Inc. (CIPDI)—a joint venture between the Aboitiz Group and the Tsuneishi Group of Japan— is set to expand West Cebu Industrial Park (WCIP) to take advantage of the strong demand from foreign and local locators for industrial spaces.
WCIP is currently a 540-hectare mixed-use development, anchored by a 283-hectare Philippine Economic Zone Authority (Peza) registered zone that has complementary commercial, institutional and residential components.
It hosts 11 locators from medium to heavy industries, some of which are the biggest shipbuilding firms in the world, making Balamban the shipbuilding capital of the Philippines.
With the proposed new development, WCIP is set to grow by an additional 30 hectares over the next three years. It will have more industrial spaces, commercial centers, transport terminals, dormitories and even leisure components for tourists.
New locators and businesses that will be brought in are expected to yield up to 5,000 new jobs for the community.
“Our vision is to transform WCIP into a fully integrated economic center that will spur further economic growth in the area, similar to our two developments Lima Estate in Batangas and Mactan Economic Zone II in Lapu-Lapu City, Cebu. With its strategic location, skilled population, lower cost of doing business and well-established ecosystem of infrastructure, we believe that WCIP is the ideal location for light, medium and heavy industries looking to expand or locate in Cebu,” said Rafael Fernandez de Mesa, first vice president for operations of the Aboitiz Integrated Economic Centers.
With the expansion on the horizon, CIPDI has been in talks with several potential locators amid the pandemic for the last few lots in WCIP’s existing inventory. These are among the only Peza-proclaimed inventory left in Cebu.
It recently landed Advanced Catamaran Composites, its third shipbuilding firm, which is targeting to start its operations in the first quarter of next year.
“We are excited to have Advanced Catamaran Composites as our newest locator in the West Cebu Industrial Park. With our 30 hectare expansion set to break ground next year, we are hoping to attract more locators to Balamban,” said Eduardo Aboitiz, vice president for Business Development of the Aboitiz Integrated Economic Centers.
“At Aboitiz, we are committed to making lasting partnerships with our locators by ensuring the ease of doing business and providing them with fully integrated solutions of infrastructure services such as power, water and land. WCIP is only set to grow further, and now is the perfect time to invest here,” he added.
In 1992, Balamban, Cebu was a simple coastal town which transformed into a first-class municipality when CIPDI began operations in the area to develop WCIP.
The initial success of WCIP enabled the estate to grow from 202 to 540 hectares. More than 14,000 skilled workers are being employed by its industrial and commercial locators. The expansion hopes to continue WCIP’s growth story and turn Balamban into a vibrant city.
As a Special Economic Zone, import and export businesses in WCIP enjoy tax incentives and other privileges. It also offers a secure location and ease of doing business. (PR)