National

PBBM LEADS INAUGURATION OF PH’S FIRST ADVANCED BATTERY FACTORY IN TARLAC

admin October 1, 2024

PRESIDENT Ferdinand R. Marcos Jr. on Monday led the inauguration of the country’s first lithium iron phosphate (LFP) battery factory at the New Clark City in Capas, Tarlac.

Funded by StB Capital Partners based in Brisbane, Australia, the StB Giga Factory sets the stage for the Philippines to become a key player in clean energy storage in Southeast Asia.

President Marcos emphasized the factory’s role in the national agenda to promote clean energy through private-public sector partnerships.

In his speech, Marcos highlighted StB Giga Factory as a fulfillment of a commitment for investment and development made during the Philippines Business Forum in Australia in March this year.

The partnership between the StB Giga Factory and the government indicates the country’s readiness to innovate, lead, and become the go-to destination for high-tech and high-impact investments, the President added.

“This inauguration of the StB Giga Factory is a remarkable example of what happens when our national agenda of promoting clean energy intersects with a solid commitment from the private sector,” President Marcos said.

“In fact, this development is among the pledges that we received during the Philippine Business Forum in Australia, Melbourne, last March in Canberra. Six months later, we are witnessing how this pledge has come into reality,” he said.

“I cannot overstate the importance of this investment. Hence, the silly grin on my face. It sends this message to the world: The Philippines is now ready—to innovate, to lead, to become the go-to destination for high-tech, high-impact investments,” he added.

The Chief Executive also highlighted the P5-billion investment projection and 2,500 employment opportunities for talented Filipinos once operations begin in October 2024.

“Looking towards the future, when this factory reaches full capacity, it is expected to channel five billion pesos into the economy annually. It will create 2,500 jobs for Filipinos. And these are not just regular jobs, these are very important high-tech jobs, quality jobs that we would like to bring to our countrymen,” President Marcos said.

“So, from engineers and technicians to administrative personnel—it is about nurturing homegrown talent and offering opportunities that match the ambitions right here on our own soil,” he added.