MANILA (UPDATE) - Cebu Industrial Park Developers (CIPDI), a joint venture between the Aboitiz Group and Tsuneishi Group of Japan, is set to expand the 540-hectare West Cebu Industrial Park (WCIP) in the next 3 years as demand grows for industrial spaces from both foreign and domestic locators, Aboitiz Infracapital said on Tuesday.
The newly planned development will add more industrial spaces, commercial centers, transport terminals, dormitories, and even leisure components for tourists, it said.
The Aboitiz group expects that the expansion will create 5,000 new jobs from the surge of locators and businesses seen by the end of 2022.
“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,” said Rafael Fernandez de Mesa, first vice president for Operations of the Aboitiz Integrated Economic Centers, said.
WCIP is a 540-hectare mixed-use development in Balamban, Cebu, which hosts 11 locators from medium to heavy industries within its PEZA-registered zone.
The park recently welcomed Advanced Catamaran Composites as its third shipbuilding firm in WCIP’s economic zone, which will start 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 at the Aboitiz Integrated Economic Centers, said.