Olongapo SubicBay BatangGapo Newscenter

Friday, July 28, 2006

SBMA approves 21 projects worth P16.848 billion in June

Manila Bulletin

The Subic Bay Metropolitan Authority (SBMA) has approved 21 projects for the month of June with combined investments of $ 324 million or approximately P16.848 billion led by the $ 300-million investment of Hebei Jingnui Crystal Bull Co. Ltd. for its industrial glass production plant.

SBMA administrator and chief executive officer Armand Arreza said that another big project approved by the SBMA in June is Innove Communications, Inc., a subsidiary of Globe Telecom, with US$ 6.3 million committed investment.

According to Arreza, Hebei is developing a 30-hectare lot near the Maritan Hills for its glass manufacturing operation.

Hebei’s project involves the installation of two float glass lines, which is the tinted glass, and 2 jade ceramic lines for used in kitchen countertops and bathrooms.

The Maritan Hills was the choice location of Hebei because it is a good staging area for silica sand, which it initially imports from Vietnam.

"But there are other local sources for silica sand like the ones being used by Yamamura San Miguel and Asahi Glass," Arreza said.

Under the original plan, the Chinese group will invest in two float glass lines with a production capacity of 500 tons a day, two rolling crystallite glass lines, glass deep processing lines and glass fiber reinforced plastic yacht.

The glass firm’s other products include float sheet glass, solar control reflective glasses, multicolor high tech rolling crystallite glass with various specifications.

Its products are exported to 70 countries in Europe, Asia, the Americas and Africa.

In addition to the glass manufacturing project, Hebei has also expressed interest to develop an industrial park either in Subic or in Clark, which is one of the 10 industrial parks being planned by the Chinese government in Southeast Asian countries.

According to Arreza, the Chinese government plan is to ask its private sector to develop the industrial parks on their behalf.

For this industrial project, Arreza said that Hebei has already reserved for six months the 100hectare lot in the Tipo area. The six-month reservation period starts this month.

The Philippine government, however, is also offering Clark, which has a better leeway when it comes to huge project development. Clark, Arreza said, has 34,000-hectare lot in the Subzone area.

Arreza also reported that for the first semester this month, SBMA generated P2.2 billion in revenues reflecting a 23 percent increase over P1.8 billion generated in the same period last year.

Arreza said that of the amount the Bureau of Internal Revenue (BIR) collected P560 million from January to June in withholding taxes, income taxes, and other receipts as against P464 million collected by the agency in the same period last year.

The Bureau of Customs, on the other hand, generated P1.6 billion for the first semester from payments of tariffs and duties, which is 24 percent higher than P1.3 billion collected in the same period last year.

He attributed the increase in revenue collections to the new companies which started their operations in Subic and opened employment to thousands of workers from nearby communities in the region


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