Taiwanese Medtecs International Corp. Ltd. is eyeing to develop a $1.9-billion (nearly P100 billion) industrial town in the country that would include production facilities for e-mobility/ electric vehicles, personal protective equipment (PPE), and integrated textile manufacturing using tropical fibers, particularly abaca, bamboo, and banana, among others.
The project will create 125,000 jobs in seven years, the Board of Investments (BOI) said in a statement.
The BOI said the plan was disclosed by MedTecs chairman Clement Yang during a courtesy call on March 23 with BOI managing head Ceferino Rodolfo.
The BOI said Medtecs is set to fill in the missing gaps in the country’s textile supply chain such as yarn production, spinning, weaving, including the production of recycled polyester textile, which is a mix of polyester with recycled materials from post-consumer bottles.
The BOI said Medtecs plans to produce nitrile gloves, now being done in Cambodia, as part of the planned PPE hub.
Medtecs has earlier commenced production of melt-blown non-woven fabric/material — the critical filter medium used in medical-grade face masks. With a project cost of around $600,000 and a total manpower requirement of around 15 employees, the project has a production capacity of 25 million face masks per month. The project is registered with the Authority of the Freeport Area of Bataan and is located at the Medtecs Compound in Mariveles City, Bataan.
Rodolfo said the project may avail of incentives of up to 40 years. – Irma Isip
