PSPC to Commence Phase 2 Semicon Plant Construction, Inks Project Management Contract

Pampanga—(PHStocks)—Publicly listed Phoenix Semiconductor Philippines Corp. (PSE: PSPC) recently signed project management agreement for the construction of its Phase 2 semiconductor manufacturing/assembly facilities with D. A. Silvestre & Associates (DASA), an architectural and engineering consulting firm.

The agreement was signed by PSPC President and CEO Byeongchun Lee and Arch. Jose Danilo Silvestre, head of DASA.

PSPC’s Board of Directors had earlier granted authority to Lee to sign and approve all contracts and acts for the construction of the Phase 2 project. The project consists of a new process building to house about 40,000 sq. meters of production floor space for semiconductor assembly and test facilities for PSPC’s future customers. The authority paves the way for the official start of the implementation of the second manufacturing facility of PSPC in Clark Freeport, Pampanga.

Under the terms of the contract, DASA shall undertake pre-construction activities, notably the review of architectural and engineering designs and plans to ensure compliance with pertinent laws, rules, and regulations; to file and obtain the required building and occupancy permits; and to assist in the supervision of the construction of the Phase 2 project. DASA also undertook the project management of and provided support services for PSPC’s Phase 1 facility in 2010.

Bidding for the award of the general construction contract and the supply of other related engineering and construction services is currently ongoing.