CONCRETE STONE Corp. (CSC) said it tied up with a Chinese construction solutions provider to develop a P1.36-billion manufacturing facility in Mariveles, Bataan, which will serve both domestic and regional markets.
“The project is expected to create significant economic impact in Bataan, including the generation of new jobs, the transfer of advanced building technologies, and the strengthening of local supply chains,” the company said in a statement on Wednesday.
CSC’s partnership with Jiangxi GETO New Material Corp. Ltd. will oversee the development of a 40,000-square-meter industrial facility.
“This venture will be implemented through two new corporations: CSC-GETO Realty Corp. (CGRC), which will manage the property, and GETO-CSC Formworks, Inc. (GCFI), which will operate the formworks manufacturing facility,” it added.
The plant is expected to produce advanced formwork systems, which support and shape concrete structures while the concrete is drying.
“Our partnership with CSC will not only introduce our cutting-edge formwork systems but also establish a production hub that can serve the broader ASEAN region,” according to Lian Jie, general manager of GETO International.
“We are setting the stage for a transformative industrial project that will boost local employment and enhance construction efficiency,” Francis Lloyd Chua, chairman of CSC, said, noting that the plant’s output could also help scale up housing projects.
Under the partnership, the Chinese firm will help the plant tap world-class technology. CSC is expected to provide the land and handles operations.
The facility will also benefit from its affiliation with Asiabest Group International, Inc. CSC is set to be an Asiabest subsidiary by the second quarter of next year. — Justine Irish D. Tabile