LISTED property developer Filinvest Land, Inc. (FLI) has turned over a ready-built factory to StB GIGA for the production of lithium iron phosphate (LFP) batteries in Filinvest New Clark City.
The factory, spanning 5,000 square meters of industrial space in Filinvest Innovation Park, was turned over to StB GIGA on Feb. 28, FLI said in a statement on Tuesday.
“The handover… signifies the commencement of StB GIGA’s move-in process, paving the way for their LFP battery manufacturing facility within the innovative industrial park,” FLI said.
StB GIGA is a Philippine subsidiary of StBattalion Pte. Ltd., which is jointly owned with the St Baker Energy Innovation Fund. The fund is managed by StB Capital Partners, an Australian investment manager that incubates and invests in companies in the energy and e-mobility sectors.
“With the official handover of the ready-built factory unit, we are one step closer to realizing our vision of establishing a world-class LFP battery manufacturing facility in the Philippines. This facility will not only cater to the growing demand for electric vehicles but also contribute to a greener, digital, and more sustainable future for the nation,”StB GIGA Chief Executive Officer Dennis Chan Ibarra said.
The Filinvest Innovation Park is an industrial park within the Filinvest New Clark City mixed-use township, which is part of the 9,450-hectare New Clark City development in Capas, Tarlac.
The ready-built factory compound of Filinvest Innovation Park will feature 10 units to be built on a 40,000-square meter lot. Each of the units is designed for logistics, e-commerce, and light manufacturing locators.
The units come with a two-bay loading dock with dock levelers, roll-up doors, an eight-meter ceiling clearance, a floor load capacity of three tons per square meter, and a fire suppression system. They also have rainwater harvesting and recycling system as well as solar panel-ready roofs.
“We are very pleased to welcome StB GIGA to Filinvest Innovation Park. This partnership not only strengthens our commitment to attracting leading sustainable businesses but also generates substantial employment opportunities for the region, contributing to the overall economic growth of the Philippines,” FLI Senior Vice-President and Industrial Business Unit Head Francis V. Ceballos said.
On Tuesday, FLI shares were unchanged at 68 centavos apiece. — Revin Mikhael D. Ochave
