TECO Electric plans $250-M ‘Software Park’ in Clark
Taiwanese groups led by TECO Electric have proposed a $250 million “Software Park” in either Subic or Clark to house IT companies, which are interested to locate in the Philippines, the Manila Economic and Cultural Office (MECO) said.
MECO chairman and CEO Amadeo R. Perez Jr. said top level Taiwanese executives themselves visited the country recently. These are TECO Electric Chairman Emeritus Ted Huang, Far Glory Group Chairman Chao Teng-hsiung, and Fubon Land Chairman George K.C. Liu.
Perez said the three company big bosses have also met with Trade and Industry Secretary Gregory L. Domingo during the visit.
Based on the project summary, the proposed $250 million Software Park will cover an initial land area of 15 hectares in Clark or Subic and is expected to employ a maximum of 21,000 people. “
“It is just a little smaller than the cost of the Nangang Software Park in Taipei, wherein TECO Electric is also a major partner,” the brief project summary stated.
When fully occupied, the project can generate $10 billion worth of economic activities from rent, revenues from locators and allied services.
“This is smaller and conservative taking given what they have experienced in their Nangang Software Park in Taipei,” the project brief stated.
Aside from the energy sector, TECO Electric is also engaged in consumer electronics and industrial motors. It also owns the Nangang Software Park in Taipei.
Far Glory Group is Taiwan’s biggest property developer. It has also projects in Hong Kong and China.
Perez said that Far Glory is also interested in developing some real estate projects in the country.
Fubon Land, a subsidiary of Fubon Financial Holding, is Taiwan’s second biggest financial institution.
According to Perez, MECO has been aggressively pursuing investment promotions in Taiwan. Another investment mission is being scheduled in June this year in Taipei.