MPIC Logistics to Spend P8-Billion on Warehouse Space and Equipment

One of the country's largest conglomerate, Metro Pacific Investments Corporation (MPIC) will spend over P8-Billion to develop a property they acquired in General Trias, Cavite through their logistic firm Metropac Movers Inc. (MMI).


The P8-billion worth of investment will be used by MMI to develop a property into a massive warehousing facility in a bid to enhance efficiency in transportation of goods in the country.



According to MPIC it signed on Monday a deal with the Property Company of Friends, Inc. (ProFriends) to purchase several adjacent parcels of land with an aggregate size of 202,000 square meters.

"The property, with a total cost of P1.2 billion, will be used by MMI to develop and manage distribution centers for its existing and potential clients in the fast moving consumer goods, consumer durables, automotive and e-commerce spaces," MPIC said in a disclosure to the Philippine Stock Exchange.

MPIC also noted that its subsidiary will develop the property into a 141,000-square-meter covered warehouse space and will also purchase the equipment to service its clients.



The property acquisition of MMI complements the 522 brand new trucks acquired by the infrastructure giants last year and existing leased warehouse spaces across Luzon, Visayas and Mindanao.

The company also plans to buy land in Bulacan, which it would utilize to build a logistics firm in the country.

MPIC stated "It will fulfill a much needed function in today's fragmented logistics market where resources to efficiently track and deliver goods to all parts of the Philippine archipelago are still lacking," the company said.

Source: PNA

MPIC Logistics to Spend P8-Billion on Warehouse Space and Equipment MPIC Logistics to Spend P8-Billion on Warehouse Space and Equipment Reviewed by Phil Newsome on June 19, 2018 Rating: 5
Powered by Blogger.