A SINGAPORE-based construction company is set to open a showroom in Cebu this month to cater to the construction requirements of the southern Philippines market.
International Plant & Equipment (IPE) Pte.Ltd. sales manager Edward Tay said Cebu s growing construction activities spurred them to expand their operations here.
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Tay said their office in Cebu is a showroom and after-sales service facility that would serve clients in the Visayas-Mindanao area.
IPE is still looking for a viable location where they can set up their office.
According to Tay, they estimate to spend about P1.4 million for the office.
IPE is a supplier of a wide range of concrete and construction equipment. Among its products are concrete batching plants, asphalt mixing plants and light construction equipment.
The company has network operations in the Philippines, Malaysia, Indonesia, Cambodia, Middle East, Thailand, and Vietnam.
Our expansion in Cebu was buoyed by its strong local economy as manifested by rapid construction activities here, Tay said in an interview during the Cebu Construction Show, which concluded yesterday.
IPE has 46 batching plants in the Philippines, four of which are located in Cebu, through private contractors. Tay said the establishment of these plants cost $80,000 to$200,000 in investments.
Tay said the adoption of advanced technologies in construction helps increase productivity and efficiency.
He said the Philippines needs to invest in proper equipment and training of its workforce.
According to industry reports, public construction will significantly boost the country s economic growth this year as the government already released the budget to fund various infrastructure projects of different agencies like Department of Public Works and Highways, Department of Education and Department of Agriculture.
Private construction on the other hand, will remain robust given the growth in the office space and condominium sector.
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