PBBM Inaugurates JG Summit’s ₱150-B Petrochemical Complex, Honors Philanthropist John Gokongwei Jr.

President Ferdinand R. Marcos Jr. led the inauguration of the P150 billion expanded JG Summit Petrochemicals manufacturing complex in Batangas.

The president emphasized that the inauguration of this complex, located in Barangay Simlong, Batangas City, manifests business confidence and that the administration’s investment promotion policies are working. I Photo: Bongbong Marcos Facebook

The Gokongwei-led JG Summit Olefins Corporation produces essential ingredients used in products such as water bottles, packaging for food, components in transport vehicles, and fibers for clothing, among others.

The president emphasized that the inauguration of this complex, located in Barangay Simlong, Batangas City, manifests business confidence and that the administration’s investment promotion policies are working.

“I thank you for this opportunity to personally validate if the policies that we have instituted to do, in fact, spur investments do work on the ground… So let me hand the quick analysis. This impressive complex is proof of concept that that idea, that principle, that concept does, in fact, succeed,” he said.

“What JG Summit has built is more than cutting-edge technology; it is a testament to the skills of Filipino workers, proof of business confidence, an example of manufacturing resurgence, and a realization of the vision of Filipino industrialist John Gokongwei,” Marcos added.

The president noted that the complex is an upstream industry that feeds many enterprises and supplies many other manufacturing requirements. It also, directly and indirectly, employs 6,200 individuals and is a major contributor to an industry that is envisioned to enrich the country’s economy by PhP215 billion next year.

“Being among the linchpins of the Philippines' industrialization, it is a vital link in moving up the value chain and guarantees the supply of a critical production ingredient,” he underscored.

Marcos also toured the 160-hectare facility together with JG Summit Holdings Inc. Chairman James Go, as well as company President and Chief Executive Officer Lance Gokongwei.

For his part, Gokongwei said, “This manufacturing complex, built at a cost of over P150 billion and completed through the twists and turns of close to three decades, represents one of our largest investments in a single business.”

Meanwhile, Marcos paid tribute to businessman and philanthropist John Gokongwei Jr. for his ‘selfless love and immense contributions to the lives of Filipinos and the country.’ The president described the complex as ‘a great vision’ of Gokongwei.

“His (Gokongwei) is a story of guts and grit for the ages,” President Marcos said.

The President recalled how Gokongwei rose from very humble beginnings the time he lost his father and their fortune, forcing him to ride a bicycle to peddle wares to support their family.

“From thereon, he never stopped venturing out to new frontiers, combining audacity with acumen to launch great products that capture Filipino hearts and, in the process, generated profit with honor,” Marcos said.

The President said Gokongwei had started practicing “Build, Better and More” long before it came to action through JG Summit’s extensive portfolio from how it started from airplanes to chemicals, from housing to hotels, and from fish to Naphtha crackers.

Marcos said the late Gokongwei chose to be challenged in everything that he did similar to how he envisioned the Petrochemicals Manufacturing Complex, which plays a significant role to the Filipino people.

“So, it gives me tremendous hope that Mr. John’s strong belief in the Filipino and his abiding faith in our country are the same forces that drive the worthy stewards of his legacy to never stop making the lives of the Filipino people better,” President Marcos concluded.

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