THE LOGISTICS arm of Metro Pacific Investments Corp. (MPIC) has tapped Aboitiz Construction, Inc. (ACI) to develop its 20-hectare property into a logistics hub in Cavite.
In a statement issued Wednesday, MetroPac Movers, Inc. (MMI) said it has signed a memorandum of agreement with ACI for the development of the South Mega Distribution Center (South Mega DC) along Arnaldo Highway in General Trias City, Cavite.
South Mega DC will stand on a 202,000-square meter (sq.m.) property that MMI purchased for P1.2 billion in 2018. The company said it will offer about 25,000 sq.m. of leasable space when finished.
ACI will be in charge of preparing the project’s master plan and basic design, which is expected to take about six months to a year, excluding the actual construction.
MMI also named DCCD Engineering Corp. as South Mega DC’s project manager.
South Mega DC will cater to MMI’s existing and potential clients in the fast-moving consumer goods, consumer durables, and other industries.
Apart from South Mega DC, MMI will also build North Mega DC in Bulacan, from its acquisition of 277,857 sq.m of land in San Rafael, Bulacan last year. These form part of a series of logistics infrastructure projects that the company has lined up in the following years.
Founded in 2016, MMI targets to become the top logistics provider in the country. It currently owns a fleet of 520 trucks, and operates over 200,000 sq.m of aggregate warehouse space in various locations across Metro Manila, Luzon, Visayas, and Mindanao.
The company is also investing in technology and training to further boost its logistics network. It had previously invested in a control tower where it can manage its booking, location, and tracking services.
Aside from its core business of end-to-end logistics, it also offers transport and freight forwarding through its three trucking components namely Premier Logistics, Metropac Trucking Company, Inc., and Trucking Pro.
MPIC posted a net income attributable to the parent of P12.49 billion in the first nine months of 2018, 12% higher year on year. This followed a 42% jump in gross revenues to P61.35 billion in the same period.
Shares in MPIC slipped by 0.61% or three centavos to close at P4.85 each at the stock exchange on Wednesday.
MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arra B. Francia