Canadian-Filipino firm investing $20M in RP
The Manila Times, By Arnold S. Tenorio, Senior Reporter- 2002-04-05

A Canadian-Filipino joint venture firm is planning to invest $20 million next year to put up a factory that would manufacture a patented construction material.

On the sidelines of a Canadian Chamber of Commerce and Industry meeting the other day, Royal Ventures Construction and Development Inc. (RVCDI) chairman Antonino Agozzino told The Times that the construction material factory would be producing for an estimated 12,000 to 20,000 housing units a year. The company’s decision to set up a manufacturing facility was brought about by its success so far in marketing what it calls the Royal Building System, a patented wall system made up of rigid extruded polymer components.

The steel-reinforced panel system is earthquake-, typhoon-, mildew-, and ultra-violet-resistant. A low-cost house built using the technology would cost anywhere from P180,000 to P225,000, including the lot.

“Our strategy was not to build the plant right away, but market the technology and create the demand that would merit putting up a manufacturing facility,” Agozzino explained.

Following its success in getting government endorsement for its technology, RVCDI, an affiliate of Royal Technologies Group of Canada, is eyeing the construction of about 3,300 low-cost housing units within the next two years. Some of these units would be constructed under government’s housing program, tapping Pag-Ibig and the National Housing Authority for funding and technical support.

The company has six ongoing projects, including one in Pampanga, which was arranged by virtue of a memorandum of understanding signed during President Arroyo’s earlier visit to Canada.

Royal Technologies Group operates in 60 countries and is listed at the Canadian and New York Stock exchanges.