THE BOARD of Investments (BoI) has approved a P93-million modular housing components production project in Davao del Norte.
The Connovate Philippines, Inc. project is expected to produce 47,763 square meters in wall area each year after it starts operations this month. Modular buildings involve the off-site construction of individual sections or modules.
The project will have 46 employees, the BoI said in a press release on Tuesday.
“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 S. Rodolfo said.
“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.”
CPI currently produces concrete panels at its facilities in Cavite and Camarines Sur.
The company has submitted a trademark application pending at the Intellectual Property Office. Its Connovate Precast Wall Panel product is accredited by the Accreditation of Innovative Technologies for Housing (AITECH), which assesses the reduction of housing costs.
Local workers will be trained to use the technology and processes being used by Connovate Denmark, with which CPI has an exclusive production licensing agreement.
The modular housing project is the company’s third project registered with the BoI. — J.P. Ibañez