Japanese trading houses Mitsubishi Corp. and Sumitomo Corp. have expressed interest in expanding their presence in the Philippines.
Mitsubishi is keen on new projects in Philippine infrastructure that leverage its expertise in energy transformation and digital transformation, according to commercial counselor Dita Angara-Mathay of the Department of Trade and Industry (DTI).
Mathay joined DTI Secretary Alfredo Pascual and Cabinet secretaries in a meeting on June 19 in Tokyo with representatives from Mitsubishi and Sumitomo.
Mathay also reported Sumitomo is interested in the privatization bid for the Caliraya-Botocan-Kalayaan (CBK) hydropower plants in Lumban, Majayjay, and Kalayaan in Laguna. The CBK hydroelectric power plant complex, which includes three facilities with a total capacity of 796.64-megawatt (MW), is a leading player in the Luzon power system.
According to DTI, Sumitomo ’s expansion plans include participation in the Metro Manila Subway Project and the Metro Rail Transit Line 3 Maintenance project.
The company is considering taking over MRT 3 operations and maintenance through a concession framework.
Sumitomo also discussed with the Philippine delegates the expansion of the First Philippine Industrial Park in Batangas to attract high-value manufacturing industries, including research and development centers and data centers.
Sumitomo is exploring the development of residential and commercial areas around the park.
Meanwhile, Mitsubishi reaffirmed its commitment to the Metro Manila Subway Project, formalized through a letter of intent with the Philippines.
The company reported that as of May, the project is exceeding planned progress–the system’s preliminary design is nearing completion, with pre-final design currently underway. Regular interface meetings with civil contractors, rolling stock contractors, and other stakeholders are also ongoing.
Mitsubishi is also involved in the North-South Commuter Railway.