DTI Secretary Ramon Lopez (File photo)
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has discussed with executives from United States-based battery technology firm and independent tower company (ITC) regarding their investment plans in the country.
In a statement Monday, Lopez said DTI officials, along with Defense Secretary Delfin Lorenzana, met with ZAF Energy Systems and Battery Grade Materials, Inc. (BGM) during a high-level diplomatic reception for government officials and business leaders in Washington D.C. last week.
Lopez told ZAF chief executive officer Randy Moore that the planned investment of the firm and its affiliate company, BGM, could qualify for Tier II under the industrial value chain gaps of the proposed 2022 Strategic Investment Priority Plan (SIPP).
ZAF-BGM eyes nickel hydroxide processing plant and battery manufacturing projects that can serve the demand for electric vehicles, as well as other applications for commercial and defense-related equipment.
The DTI said the estimated value for the projects amounted to USD400 million to USD500 million (PHP21 billion to PHP26 billion) and can generate a thousand jobs.
“We have been targeting companies that can process our minerals instead of exporting them as raw ore. This will encourage high-value minerals processing in the country and is in line with our efforts to bring in more investments under the leadership and guidance of President (Rodrigo) Duterte,” Lopez said.
Moreover, provider of infrastructure for wireless communications SBA Communications Corp. remains optimistic to expand its presence in the Philippines.
SBA Communications senior director (international) Nicholas Van Slyck and senior director (Government and Regulatory affairs) Maria Alexandra Velez also discussed with Lopez in Washington D.C. last week the company’s expansion plan in the country.
SBA was registered with the Board of Investments (BOI) in March 2021 and established its Passive Telecommunications Towers Infrastructure, a project with a pioneer status.
The company is allocating PHP10.76 billion for the project, employing 353 personnel, to install 1,470 tower structures in the country over a five-year period.
“As the Philippines is in the middle of updating its digital infrastructure, we welcome SBA's continued expansion in the country, which will create more jobs while enhancing competition that will lead to better and more affordable telecommunication services for the people,” Lopez said. (PNA)
