Medtecs eyes $1.9 billion industrial town for textile manufacturing, EV assembly

MANILA, Philippines — Face mask manufacturer Medtecs International Corp. Ltd. plans to expand operations in the country as it eyes the development of a $1.9-billion industrial town for textile manufacturing and electric vehicle (EV) assembly.

In a statement, the Board of Investments said Trade Undersecretary and BOI managing head Ceferino Rodolfo recently met with Medtecs chairman Clement Yang to discuss the company’s plans.

During the meeting, Yang disclosed that Medtecs intends to develop an industrial town that would generate $1.9 billion worth of foreign direct investments and around 125,000 jobs in seven years.

The planned industrial town would include production facilities for e-mobility or EVs, personal protective equipment, and integrated textile manufacturing using tropical fibers, particularly abaca, bamboo and banana.

Medtecs is keen on filling the gaps in the country’s textile supply chain by bringing yarn production, spinning, weaving, including the production of recycled polyester textile or a mix of polyester with recycled materials from post-consumer bottles.

Yang also shared during the meeting that Medtecs has started production of melt-blown non-woven fabric or the critical filter medium used in medical-grade face masks in Bataan.

With a project cost of around $600,000 and a total manpower requirement of around 15 employees, Medtecs’ project has a capacity of producing 25 million face masks per month.

Located at the Medtecs Compound in Mariveles City, the project is  registered with the Authority of the Freeport Area of Bataan.

Rodolfo said Medtecs’ planned business activities are all listed in the Strategic Investment Priority Plan and as such, are eligible for incentives under the Corporate Recovery and Tax Incentives for Enterprises Act.

He emphasized that highly desirable projects with minimum investment capital of P50 billion or at least 10,000 job generation may avail of incentives of up to 40 years.

He also offered to link Medtecs to local players engaged in EV assembly or production and nickel mining companies, as well as to arrange a presentation featuring the New Clark City, including site visits in Capas and Bamban, Tarlac.

In response to Yang’s concern on available human resources,  Rodolfo said the BOI has an existing partnership with the Commission on Higher Education that can be tapped for industry-academe collaboration.