TECH giant Samsung is investing $200 million for expanding in the Philippines, a Trade official said on Tuesday.
“Based on our meeting last week, Samsung Electronics Philippines Corp. said they will put up another $200 million for its expansion,” Trade Secretary Ramon Lopez said.
This is separate from the earlier deal Samsung Philippines made with Ayala Land Inc. and Makati Development Corp., he said.
In January, Samsung Philippines signed a three-year partnership with Ayala Land and Makati Development for system air conditioning.
The three-year nationwide deal of nearly P1 billion is Samsung’s biggest partnership for system air conditioning globally and saw three of the leading companies in technology, real estate and construction team-up to provide cooling solutions Ayala Land’s commercial and business developments.
The partnership entails the supply, installation and preventive maintenance of Samsung air conditioners in at least 12 projects in hotel and business process outsourcing centers across the country.
Samsung will provide variable refrigerant flow solutions through its new digital variable multi-system units,
known for its efficiency and sophisticated controls for large commercial buildings.