The investment plans were presented during a Sept. 12 meeting with President Ferdinand Marcos Jr. and Cabinet officials, as the multinational group expands beyond its existing digital infrastructure operations in the country.
Trade Secretary Cristina A. Roque said in a statement that the projects would bring additional capital and technology while supporting jobs and local industries.
“iSON Group’s expansion shows that our investment reforms are working and that global companies trust the Philippines,” Roque said.
More towers
iSON Tower Ltd. Inc., the group's digital infrastructure arm, has already invested $65 million to build 450 telecom towers across Metro Manila, Luzon, the Visayas and Mindanao under the Department of Information and Communications Technology's Common Tower Policy.
Backed by US private equity firm TPG Peppertree Capital, the Asian Development Bank and Security Bank, the company employs more than 120 people directly.
Over the next 10 years, iSON Tower plans to invest as much as $300 million to expand its network to 3,000 towers.
The company targets building 300 to 400 towers annually. The expansion is expected to generate more than 100 additional direct jobs and increase its contractor workforce to about 1,000.
Beyond telecom
iSON is also lining up $75 million in new and expanded investments in agriculture, healthcare and BPO.
The biggest is a $50-million agro-solar project in New Clark City through a joint venture with the Bases Conversion and Development Authority.
The project will combine 50 hectares of protected agriculture using greenhouse and polyhouse systems with a 40-megawatt-peak solar photovoltaic facility.
Initial crops will include capsicum, cherry tomatoes and cucumbers, with plans to eventually cultivate 20 to 25 varieties.
Another $15 million is earmarked for expanding iSON Health's digital healthcare services, including round-the-clock Tagalog and English teleconsultations, second medical opinions through more than 300 partner hospitals worldwide and medical tourism services.
BPO expansion
The group is investing another $10 million to expand its contact center operations, which serve Philippine telecommunications companies Globe Telecom and Smart Communications.
It eventually plans to bring global offshoring workloads from South Africa, Egypt and India to its Philippine operations.
Finance Secretary Frederick D. Go said iSON's expansion demonstrated the country's growing appeal to global investors.
The government also outlined potential support for qualifying projects under the CREATE MORE Act and the Strategic Investment Priority Plan, as well as expedited regulatory and permit processing through the Green Lane for Strategic Investments.
iSON Group founder and chair Vivek Gupta led the company's delegation during the meeting. —Ed: Corrie S. Narisma
