Leviste-led Countryside to invest P5 billion in Batangas development

Countryside Investments Holdings Corporation, owned by businessman Leandro Leviste, disclosed its plan to invest over P5 billion to help boost the development of rural Batangas.

In a Friday news release, Countryside said the more than P5-billion investment plan forms part of the company’s initiative to foster sustainable regional development.

The company said it was spearheading the venture along with Solar Philippines Power Project Holdings Inc., another Leviste-led firm, following the solar power firm’s recent sale of shares in SP New Energy Corporation (SPNEC) to Meralco PowerGen Corporation (MGen) and other investors.

The proceeds from the said transactions and other financing were earmarked for a series of development projects in western Batangas, where Countryside and its affiliates have significant landholdings.

Countryside said the strategic focus of the investment is on sectors that promise high-impact benefits for the local economy, including energy, industrial, and commercial projects.

The company added that its investment initiatives are aimed at creating job opportunities, thereby addressing the urgent need for employment following the recent closure of the Central Azucarera Don Pedro sugar mill in Nasugbu, Batangas owned by Roxas Holdings Inc.

Countryside also highlighted the flagship projects of Solar Philippines in the region, such as the 63-megawatt Calatagan Solar Farm which is seen to propel local development and sustainability through renewable energy. — DVM, GMA Integrated News