Olongapo SubicBay BatangGapo Newscenter

Friday, July 28, 2006

$300-m Hebei glass plant gets nod

By Elaine Ruzul S. Ramos - Manila Standard Today

the Subic Bay Metropolitan Authority board has given the nod of approval to the opening of a $300-million glass production plant of Hebei Jingniu Group of China.

The glass facility is one of 21 projects approved by the authority’s board of directors in June. The projects have combined investments $324 million.

Hebei Jingniu Group, a large-scale transnational company based in China that produces and sells high-tech glass products, sealed the commitment to put up a glass production plant in the Subic Freeport for a minimum investment of $300 million.

The project aims to generate 6,000 new jobs.

The plant needs at least 100 hectares of industrial flat lands to accommodate a facility for products such as rolling crystallite glass and coated on-line float glass, which would be shipped to over 50 countries in Europe, Asia, America and Africa.

“The company will produce high-tech crystallite glasses that are seven to eight times more wear-resistant than alloy steel and 10-25 times more corrosion-resistant than stainless steel. That is why they are very suitable to use as industry and building materials,” said Hebei president Wang Chang Li.

The company’s other products are float sheet glass, solar-control reflective glasses and multicolored high-tech rolling crystallite glass with various specifications.

Hebei will hire more than 3,000 skilled and nonskilled workers during the construction period and 2,000 operation workers and 1,000 administrative employees upon project completion.

The other big-ticket project approved last month was that of Innove Communications Inc., a unit of Globe Telecom Inc., which committed to invest $6.3 million.

SBMA chairman Feliciano Salonga said a grain production and processing base would open later this year with 5,000 job opportunities.

In the first six months, the board reported the combined revenue collections of the Bureau of Internal Revenue and the Bureau of Customs improved 23 percent to P2.2 billion from P1.8 billion year-on-year.

The BIR collected P560 million in the first six months from withholding taxes, income taxes and other receipts said SBMA administrator and chief executive officer Armand Arreza. The current figure is 20 percent higher than year-ago collections, which reached P464 million.

Customs posted P1.6 billion in the first semester from payments of tariffs and duties, translating to a growth of 24 percent over the P1.3 billion registered in the same period last year.

Arreza said the increase was due to the presence of new companies which opened employment to thousands of workers.

Salonga has projected further increases in revenues next year with the approval of several projects.


Post a Comment

<< Home


This is a joint private blog of volunteers from Subic Bay. It is being maintained primarily to collate articles that may be of importance to decision making related to the future of Subic Bay and as a source of reference material to construct the history of Subic Bay.

The articles herein posted remains the sole property of original authors and publications which has full credits to the articles.

Disclaimer: Readers should conduct their own research and due diligence before using any article herein posted for whatever intended purpose it may be. This private web log will not be liable for any loss or damage caused by a reader's reliance on information obtained from volunteers of this private blog.

www.subicbay.ph, http://olongapo-subic.com, http://sangunian.com, http://olongapo-ph.com, http://oictv.com, http://brgy-ph.com, http://subicbay-news.com, http://batanggapo.com 16 January 2012