MANILA, Philippines - A Japanese business group is eyeing to build a $200-million LED (light emitting diode) factory in Laguna by the end of the year.
The investment plan, launched yesterday, includes producing LED lights for both the domestic market and for export supply.
In partnership with the Tagaytay Mountain Peak Corp. (TMPC), Japan Environment Technology Development Co., Ltd. (Jented) said its Philippine operation hopes to become one of the world’s largest LED factories in the world.
The plant, which will have a production capacity of around one million LED light bulbs annually, will create employment opportunities in the country, Jented and TMPC said in a joint statement.
LED lights are more expensive but are technologically superior to existing conventional lighting systems available in the market.
They are also more efficient and environment-friendly because they radiate less heat and are shock resistant.
They also have longer life of 50,000 hours lifetime compared to incandescent’s 2,000 hours and fluorescent’s 15,000 hours, according to Rod Cabrera, country representative of Jented.
“Our lighting system is much lighter than other brands, has longer lifespan that than the average LED lighting system in the market and is user-friendly, meaning it doesn’t require an electrician for its installation,” he said.
Cabrera said that they will be partnering with the TMPC, a local development company.
TMPC chairman Lee Jong Hoon, for his part, said that they are exploring a potential factory site in Laguna.
Yoshiyuki Ikeda, president of GEM of Japan, and Kimihiko Kitahara, Jented executive director, said that they are bullish on the prospects of the LED lighting business not only in the Philippines but also in the US, Europe and Asia where they said they plan to export their products. They said the timeline for plant construction is in December this year as soon as they have finalized site arrangements.
They also said the project would not only generate local employment but put the country in the map of high technology in the lighting industry.