SPNEC converting vast tract of land for industrial use

MANILA, Philippines — SP New Energy Corp. (SPNEC) is targeting to convert over 3,000 hectares of land in Nueva Ecija and Bulacan for industrial use this year.

In a disclosure to the Philippine Stock Exchange, SPNEC said it is preparing the lands for industrial conversion before the new year ends after securing off-take agreements for its projects in 2022.

The company said it has fully secured the majority of its target lands.