By Ma. Elisa P. Osorio (The Philippine Star) Updated March 30, 2011 12:00 AM
MANILA, Philippines - The Board of Investments (BOI) is giving income tax holiday (ITH) to Filipino firm Megawide Construction Corp. for its P700-million mass housing project in Taytay, Rizal.
The proposed project to be located in Taytay, Rizal is estimated to cost P709.05 million and to employ 1,592 people. The projected start of commercial operation of its proposed project is June 2011.
The proposed project qualifies under the 2010 IPP listing on “manufactured products” because of the modular housing components.
The firm will engage in the production of modular housing components such as wall panels with complete doors and windows system; beams and columns with complete electrical conduits and plumbing system; and slabs and floor panels with complete floor finishing and ceiling systems.
The firm submitted a notarized undertaking stipulating that it commits to sell at least 70 percent of its total annual production volume to mass housing projects; and to submit documented information to the BOI as proof of its compliance.
The proposed project involves the mass production of modular housing components/systems such as: exterior and interior pre-cast wall panels with complete doors and windows system; structural pre-cast beams and columns with complete electrical conduits and plumbing system; and pre-cast slabs and floor panels with complete floor finishing and ceiling systems.
Its facilities will use an assembly line track to move the component or system from one workstation to the next.
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