Business

World-renowned metal products maker investing P300M in PH

Saturday, August 19, 2023

Aboitiz InfraCapital Economic Estates hold an exclusive meeting with Chinese Ambassador Huang Xilian (4th from left), Trade Undersecretary Ceferino Rodolfo (rightmost), and Batangas Gov. Hermilando Mandanas (2nd from left)G at the Grand Hyatt in BGC, Taguig on June 26, 2023. Photo courtesy of AIC

A CHINESE high-precision metal products manufacturer is investing in one of the economic zones in the Philippines.

Steelwell Industrial Hardware is investing P300 million to construct a 1.5-hectare manufacturing facility inside the LIMA Estate in Malvar, Batangas.

The Shenzhen-based company is a world-renowned producer of metal products for industrial use.

Early this year, Aboitiz InfraCapital (AIC) Economic Estates started the construction of the fourth phase of LIMA Estate, which is a 96-hectare industrial hub.

AIC said there is a strong presence of Chinese locators across its economic estates.

“This partnership signifies the start of a new era of economic cooperation between our nations. We are dedicated to creating a favorable environment that enables Chinese businesses to invest and prosper in the Philippines, leading to a mutually beneficial outcome for both countries,” AIC Economic Estates head Rafael Fernandez de Mesa said. (PNA)/PN