Arroyo courting Chinese glass-maker again
The Philippine government wants China’s Hebei Jingniu Crystal Ball Group Co. Ltd. (BCB) to reconsider its earlier decision to junk a planned investment at the Subic Bay Free Port and Special Economic Zone.
The Chinese glass company has decided to pull out its $312-million glass plant project after the Subic Bay Metropolitan Authority refused to extend incentives. The proposed project was finalized during President Arroyo’s state visit to China in September 2004.
The Philippines sent another proposal to the Chinese company reiterating Malacañan's offer to accommodate the company inside Subic Bay, Trade Secretary Peter B. Favila said.
Favila said three possible sites can accommodate the Chinese company’s plant.
Earlier, Jorge Mendoza Judan, Philippine Trade and Investment Center (PTIC) commercial attaché in Shanghai, China, said the Philippine government sent a group of negotiators to Hebei province last year to convince the glass company to reconsider its position.
Judan said the Chinese glass firm decided to pull out its proposed investment when the former management of SBMA declined to approve the project for alleged environmental reasons.
During the meeting in Hebei, the proponent reiterated its intent to locate inside the Subic Bay eyeing two separate sites, a 70-hectare property and another 33-hectare land.
Besides a glass plant, the firm is also eyeing to develop its own industrial park, a similar concept established by the Taiwanese and Japanese investors inside the free port area.
CBC plans to put up a Crystal Ball Industry Park where it will set-up two on-line float coated glass lines; two high-technology rolling crystallite glass lines; one glass deep processing line; and a crystallite glass deep processing line.
The proposed investment would also include the establishment of one power generating plant and a plastic yacht line. - Angelo S. Samonte
The Chinese glass company has decided to pull out its $312-million glass plant project after the Subic Bay Metropolitan Authority refused to extend incentives. The proposed project was finalized during President Arroyo’s state visit to China in September 2004.
The Philippines sent another proposal to the Chinese company reiterating Malacañan's offer to accommodate the company inside Subic Bay, Trade Secretary Peter B. Favila said.
Favila said three possible sites can accommodate the Chinese company’s plant.
Earlier, Jorge Mendoza Judan, Philippine Trade and Investment Center (PTIC) commercial attaché in Shanghai, China, said the Philippine government sent a group of negotiators to Hebei province last year to convince the glass company to reconsider its position.
Judan said the Chinese glass firm decided to pull out its proposed investment when the former management of SBMA declined to approve the project for alleged environmental reasons.
During the meeting in Hebei, the proponent reiterated its intent to locate inside the Subic Bay eyeing two separate sites, a 70-hectare property and another 33-hectare land.
Besides a glass plant, the firm is also eyeing to develop its own industrial park, a similar concept established by the Taiwanese and Japanese investors inside the free port area.
CBC plans to put up a Crystal Ball Industry Park where it will set-up two on-line float coated glass lines; two high-technology rolling crystallite glass lines; one glass deep processing line; and a crystallite glass deep processing line.
The proposed investment would also include the establishment of one power generating plant and a plastic yacht line. - Angelo S. Samonte
posted by OlongapoCity Zambales at
10:42 AM
0 Comments:
Post a Comment
<< Home