Singapore firm to develop Subic site

Singapore’s Jurong Town Corp. is offering to develop 153 hectares of the Subic Bay Industrial Park (SBIP) after successfully developing the Carmelray Industrial Park in Laguna, Subic Bay Metropolitan Authority (SBMA) Chairman Felicito Payumo said yesterday.

Jurong has submitted its offer to the Subic Bay Development Corp. (SBDMC) to build additional factory buildings at the SBIP.

SBDMC, which is the developer and administrator of the SBIP, is majority controlled by a group of Taiwanese investors.

According to Payumo, the new factory buildings which are being proposed to be built will cater to small and medium enterprises which do not have enough capital to lease big factories or rent space on which they will still have to construct their facilities.

"Jurong will build boutique size stalls for the SMEs, " Payumo said.

At present, the major locators at the SBIP consist of big Taiwanese companies like computer giant Acer, Hitachi, Techno Electric Machinery Corp. and First Resistor Co.

"We can’t target only the big players all the time," Payumo said, adding that Jurong is also expected to help attract new investors in the SBIP.

Jurong’s first development project in the country was the Carmelray Industrial Park in Laguna which is owned by the Yulo family.

Jurong was also a consultant in the development of the New Cebu Township and the First Clarkway Industrial Park.