Korean firm commits to invest USD1-B in Bataan
Posted 3 years ago
|USD 1-B INVESTMENT. Emmanuel Pineda, chairman of Freeport Area of Bataan and Virgilio Pagulayan, president of The BizLink, Phils., sign a memorandum of agreement on the Korean firm’s USD1
billion investment on Wednesday, Sept. 26, 2018. (Photo by Ernie Esconde)
MARIVELES, Bataan — A new locator has committed to invest USD1 billion at the Freeport Area of Bataan (FAB) here.
FAB Chairman Emmanuel Pineda made the announcement during the signing of a memorandum of agreement (MOA) on Wednesday between FAB and The BizLink, Phils., Inc., represented by its president Virgilio Pagulayan.
BizLink is a Korean firm with subsidiaries in various parts of the world.
“It is the 137th company in the Bataan freeport. Definitely, it is among if not one of the biggest investors in FAB,” Pineda said. “It will invest USD1 billion or around PHP54 billion.”
Pineda said the firm is seen to generate 10,000 jobs upon full completion of its projects in three sites.
The BizLink will build a multi-storey Information Technology building which will house an IT school that intends to have 1,000 graduates every year.
It will also develop a 26-hectare property for a mixed-use complex.
“I will see to it that with the help of the people around me, we will deliver what is expected of us,” Pagulayan said.
FAB presently has 41,000 workers in 136 multi-national companies. (PNA)