A Russian company expressed interest to the Board of Investments (BOI) to construct a pipeline coating facility in the Philippines, the Department of Trade and Industry (DTI) said on Friday, in another indiction of the country’s increasing attractiveness to foreign investors.
According to Trade Secretary Ramon Lopez, Igor Shaporin, BT SVAP LLC’s chairman of the board of directors, intends to put up the facility in Mariveles town, Bataan province, where there’s easy access to land and sea transportation.
The company showed its intention during a meeting with Presidential Spokesman Harry Roque, Trade Undersecretary and BOI Managing Head Ceferino Rodolfo, and Trade Undersecretaries Nora Terrado and Rowel Barba on December 20.
Moscow-based BT SVAP LLC specializes in developing and implementing innovative solutions in industrial production and construction of pipeline systems for fuel-power complex, chemical industry, and housing and utilities infrastructure.
It also focuses on producing protective shelves for pipes and pipelines, and uses hi-tech production and logistics facilities, as well as multifunctional design-engineering units.
“This could be a [pioneering]technology in the country. Apart from investments, [the]sharing of technological know-how and employment generation, this will also open opportunities for our domestic market and export industry,” Lopez said.
“More investors have expressed their confidence in the country’s economic stability and business environment under the Duterte administration. They wish to partner with us in providing more jobs and opportunities for Filipinos, especially those at the bottom of the pyramid,” he added.