Leviste firm to invest over P5 billion in Batangas

March 16, 2024 | 12:00am

MANILA, Philippines — Countryside Investments Holdings Corp., a company owned by Leandro Leviste, is investing over P5 billion to help boost development in rural Batangas.

The investments are focused on sectors that promise high-impact benefits for the local economy, including energy, industrial and commercial projects.

The company said these initiatives are designed to create job opportunities.

“Countryside Investments Holdings looks forward to unveiling further projects under its investment plan and working closely with communities in Batangas to usher in a new era of sustainable development and shared prosperity,” it said.

Countryside said its planned investments are timely and critical for the region’s recovery, especially following the recent closure of the Central Azucarera Don Pedro sugar mill and refinery in Nasugbu, Batangas which affected the livelihood of over 13,000 farmers and sugar mill workers.

The company said it is spearheading its venture along with another Leviste company, Solar Philippines Power Project Holdings Inc.

Proceeds from the recent sale of shares in SP New Energy Corp. (SPNEC) to Meralco PowerGen Corp. as well as other financing are earmarked for a series of development projects in Western Batangas, where Countryside and its affiliates have significant landholdings.

One of the flagship projects of Solar Philippines in the region is the 63-megawatt Calatagan solar farm.

The project, which started operations in February 2016 and now owned by SPNEC, marked the first of a series of developments that aim to bring long-term economic benefits to the community.

“At the heart of Countryside’s strategy is its commitment to social justice and sustainability. The company aims to make investments that solve social issues in ways that are mutually beneficial for investors and communities,” the company said.