The Board of Investments said Tuesday it approved the application of modular housing producer Connovate Philippines Inc. to establish a facility in Davao del Norte province.
The company’s P93-million project in Panabo City is expected to produce 47,763 square meters of floor area from the start of operation in December 2020. It has 46 personnel.
“Given the pandemic, construction firms will likely adapt to modularization and prefabrication for a more effective assembly line and cost-efficiency that will result in accelerated project completions and more productivity for workers,” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.
“This is particularly important as there are several projects in the pipeline and the infrastructure program of the government remains in full swing. Once modular and prefabrication gain more traction, it will not only lead to lower costs but also a tougher and longer life-span of structures, as studies have shown,” Rodolfo said.
CPI is engaged in the production of high-performance precast wall panels. It has operations in Barangay Tartaria, Silang, Cavite and Barangay Santo Domingo, Iriga City, Camarines Sur.