8 companies investing P1b in Subic Freeport

By Elaine Ruzul S. Ramos

Eight new companies are committing a total of P1 billion in investments within the Subic Freeport in areas of transshipment, food manufacturing, hotel and resorts and education.

SBMA Investment Processing Department acting manager Ronnie Yambao said most of the new locators would complement the port modernization project there. He said one would put up a drydock facility while three were venturing into the transshipment business.

He said the biggest investment was coming from Subic Drydock, with food manufacturer Bonsure Evergreen International Corp. generating the highest number of jobs at 500.

The new locators engaged in transshipment business are Ichiban Import-Export Corp., McGram Fusion Inc. and Fit Subic Inc.

The other locators are Subic Palazzo Hotel and Resort, information technology products wholesaler Subic Nexus Technologies Inc. and educational institution Lyceum of Subic Bay Inc.

SBMA chairman Feliciano Salonga and administrator Armand Arreza welcomed the eight companies in a ceremonial contract signing yesterday.

“We would like to reiterate our support for your profitability which is our profitability as well. That’s why for us it’s a new frontier of partnership and we would like to welcome you,” Salonga said.