SCIENCE PARK of the Philippines, Inc. (SPPI) said it signed a locator agreement with a Japanese manufacturer, which plans to make automotive wiring components in Bataan’s Hermosa Ecozone Industrial Park.
SPPI said the locator is Yokowo Manufacturing of the Philippines, Inc., a unit of Yokowo Co. Ltd.
“Established at an estimated cost of P230 million, Yokowo’s 3.7-hectare factory in the Philippines will produce automotive wiring harness and components and is expected to hire around 800 people,” the SPPI said in a statement on Wednesday.
In October 2020, the Trade department announced that Yokowo selected the Philippines as a manufacturing site from various Southeast Asian options.
SPPI owns, develops, and operates private ecozone estates in Cabuyao and Calamba, Laguna, Sto. Tomas and Malvar, Batangas, Hermosa, Bataan, and Lapu-Lapu City, Cebu. The developer controls nearly 800 hectares of land.
The company said its locator portfolio includes companies from Japan, Taiwan, South Korea, the US, Australia, and Europe, “including major multinational companies and Fortune 1000 and Forbes Global 2000 companies.”
SPPI is a member of ICCP Group, a conglomerate involved in financial services, property development, and exhibition facilities. Group companies include Manila Exposition Complex, Inc. which owns the World Trade Center Metro Manila; Pueblo de Oro Development Corp.; and the Investment & Capital Corp. of the Philippines. — Revin Mikhael D. Ochave