SUBIC BAY FREEPORT: The Subic Bay Metropolitan Authority (SBMA) administrator said the agency has approved the development of a $798 milion solar farm and industrial estate at Redondo Peninsula so that more manufacturing companies and light to heavy industries can locate here.
SBMA Administrator Wilma Eisma, speaking to members of media, announced that the project proposed by Singaporean-based Dynamic Konstruct International ECO Builders Corp. (Dkiebc) will rise on a 982-hectare property inside the Subic Bay Freeport Zone.
It is the agency’s answer to the inquiry of investors looking for thousands of hectares of flat land for manufacturing and light to heavy industries inside the Freeport.
Eisma said that when fully realized, the proposed solar farm and industrial city will generate about 50,000 new jobs.
“When the Subic Naval Base closed down in 1992, we were all so depressed at the loss of 35,000 jobs generated by the US Navy,” she said adding “the SBMA has long surpassed those numbers with the active workforce within the Freeport now pegged at 115,272 as of February 2017.”
The SBMA has been conferring with neighboring local government units of late to identify more areas suitable for the development of industrial estates that will be under the Subic Bay Freeport’s tax- and duty-free regime.
The SBMA administrator also clarified that out of the $798-million investment commitment, Dkiebc will spend about $300 million for the proposed 402-hectare solar farm, designed to produce 200 megawatts of green energy to primarily supply the proposed 580-hectare industrial city.
The industrial city project will include commercial buildings, factories, warehouses, utilities for water and electricity, fire and law enforcement facilities, and sanitation and landfill facilities.
Likewise, the solar farm will primarily benefit the investors and locators of the industrial city with green and low-cost energy supply and reduce the risk of exposure to the spot market.