YOKOHAMA BEGINS P3.5-B TIRE PLANT EXPANSION CONSTRUCTION IN CLARK

BY KEVIN GALANG

YOKOHAMA Tire Philippines Inc. (YTPI) has started construction on a P3.5 billion expansion of its tire plant at Clark Freeport in Pampanga.

YTPI is a subsidiary of Japan’s Yokohama Rubber Co. Ltd. (YRC).

The project, set for completion by the end of 2025, will increase YTPI’s daily production capacity to 34,100 tires, up from 32,300, and achieve an annual output of 10 million tires by 2026.

YTPI president and CEO Atsushi Funayama, Trade and Industry Secretary Alfredo Pascual, Clark Development Corporation  chairman and attorney Edgardo Pamintuan, CDC president and CEO attorney Agnes VST Devanadera, CCT Constructors Corporation chairman Hiroki Nakazawa, Mabalacat City Mayor Crisostomo Garbo, and Angeles City Mayor Carmelo Lazatin, Jr. led the groundbreaking ceremony.

According to Funayama,  the new facility will integrate Japanese technology with Filipino craftsmanship to produce high-quality tires.

The expansion is also expected to increase the workforce from 3,525 to 4,000 employees within the next two years.

In light of this expansion, Devanadera reiterated  the important role that investment promotion agencies (IPAs) play in supporting and accelerating business growth within the Freeport.

“Our duty as an IPA is to support and sustain the thriving businesses of our existing locators. CDC is proactively exploring ways to enhance our support,” she said.

She also introduced CDC’s business interdependence program, which promotes the exchange of products and services among locators to boost revenue.

Additionally, Devanadera highlighted the importance of employee welfare through housing projects with the Department of Human Settlement and Urban Development (DHSUD) that will support the investors and the community.

“We want to complete the ecosystem within Clark. We are not just developing the community of investors. We must also develop the community of workers, people, and products,” the CDC chief  added.

For his part, Secretary Pascual reaffirmed the national government’s support for foreign investors.

“Under President Ferdinand Marcos Jr.’s vision for a ‘Bagong Pilipinas,’ the government is dedicated to supporting foreign investors. YTPI’s expansion significantly contributes to employment and  economic development of Central Luzon,” Pascual said.

Funayama expressed gratitude for the collective effort that made the expansion possible.

“Since the beginning of the expansion, the CDC has been very supportive led by its brilliant and hard-working president and CEO attorney Agnes VST Devanadera, and her entire team. Finally, I would like to express my heartfelt gratitude to our esteemed guests, stakeholders, and partners for their invaluable support in turning this vision into a reality,” Funayama said.