Phoenix Semicon invests add’l $170 M in Clark

CLARK FREEPORT, Pampanga, Philippines — A leading global semiconductor firm is investing an additional $170 million to expand its operations at the freeport zone.

Clark Development Corp. (CDC) president and chief executive officer Noel Manankil, who was at the groundbreaking ceremonies of the 2nd phase of the expansion project of Phoenix Semiconductor Philippines Corp. (PSPC), expressed optimism on the expansion of the South Korean firm.

As of June 2016, the firm has $7.52 billion in investments in Clark Freeport since starting operations in 2010.

In 2016, PSPC is the top exporter in Clark with exports valued at $1.6 billion. It has about 1,600 workers. 

With PSPC’s Phase 2 construction, its manufacturing capability and employment could be doubled, said Manankil.

“In CDC, first, we are happy when we sign a lease agreement (referring to PSPC) then when the investor completes its construction and starts operating, more so, when it expands its operations,” Manankil said in his speech during the groundbreaking rites.

For his part, Lee said he is hopeful the company will contribute to the development of the local industry and businesses.

“In the next seven years, we hope to be able to duplicate, if not exceed, the advances we made since 2010 and with the support of our business partners both present and future — Taiyo Nippon and ANDA Power among others — CDC acting as our official link with the national government, and with the guidance of our mother company, SFA Semicon Co. Ltd., we commit to a better future for Clark, for Pampanga and for the Philippines, through our Phase 2 project,” Lee said in his speech.

For his part, Kim said PSPC is being molded to be the manufacturing hub of the SFA group in Asia as part of their global manufacturing realignment strategy in the future.