The logistics unit of Metro Pacific Investments Corp. (MPIC) will be rolling out P8 billion for the development of warehouses and purchase of equipment that will transform it into a leading player in the logistics space.
In a disclosure to the stock exchange on Monday, MPIC said its wholly-owned subsidiary Metropac Movers, Inc. (MMI) will be purchasing land properties to be developed into warehouses.
This includes several adjacent parcels of land covering 202,000-square meter (sq.m.) in General Trias, Cavite, previously owned by The Property Company of Friends (ProFriends). MMI has signed an agreement for the P1.2-billion property on Monday.
MMI will develop the property into a 141,000-sq.m. covered warehouse space. In addition to this, MMI plans to purchase another 300,000 sq.m of land in Bulacan. The company currently has 207,000 sq.m of leased warehouse space across the country.
These properties will further complement the 522 new trucks the company acquired in the fourth quarter of 2017.
“These resources…will be utilized by MMI to build the leading logistics firm in the Country, the first choice of existing and future clients for their logistics needs – “the ONE logistics company”. 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,” MPIC said.  — Arra B. Francia

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