Firms investing P1.4B in Subic
Ronnel W. Domingo, Inquirer
LOCAL AND FOREIGN INVESTORS are putting in about P1.4 billion in various projects at the Subic freeport, according to the Subic Bay Metropolitan Authority.
SBMA Chief Executive Armand C. Arreza said the agency would sign contracts with the locators on Wednesday for 12 projects that are expected to create about 1,700 new jobs.
The projects include those engaged in manpower recruitment; trading and shipping of minerals, plastic products, garments and construction supplies; manufacturing; hotel and restaurant operations, and research and development.
The companies involved include Asianpro Cooperative, Century Peak Corp., Coin Chemical Subic Inc., Gigatek Subic Bay Inc., Interisland Resorts and Services Inc., Inyoung-Philippines Inc., Mango Valley Corp., Shengkai Corp., Subic Amino Hightech Corp., Subic Executive Lofts Condominium Corp., Winstar Subic Display Corp. and Yienson Manufacturing Corp.
The biggest of the projects in terms of capital layout would be Yienson's $12-million (about P600 million) venture into the manufacturing, importation and export of semi-finished and finished garments.
Second biggest would be Inyoung's $10-million (about P500 million) project to manufacture, fabricate, construct and trade steel structures for another locator's facility that would rise at the Redondo peninsula within the freeport zone.
Also, Arreza said SBMA hoped that more airlines operators would consider doing business in the freeport after the Airport Operators Council last week held its yearly meeting at the Subic International Airport's facilities.
Affiliated with the Montreal-based International Air Transport Association, the AOC groups 48 international airline operators doing business in the country.
In March, Arreza announced that SBMA was offering discount rates on aeronautical fees of between 60 percent and 80 percent in an effort to attract more airline operators.
The fees cover the landing and take off, parking, lighting and other charges like those for the use of navigational equipment and radar.
Arreza had said SBMA was looking into the possibility of SBIA being able to service routes to "any point in Asia."
Current carriers using SBIA include Inter-Island Airlines, which offers chartered flights to Manila and Taiwan; Mandarin Air with flights to and from Taiwan; Cebu Pacific with flights from Incheon in South Korea, Air Philippines with flights to and from Hong Kong.
LOCAL AND FOREIGN INVESTORS are putting in about P1.4 billion in various projects at the Subic freeport, according to the Subic Bay Metropolitan Authority.
SBMA Chief Executive Armand C. Arreza said the agency would sign contracts with the locators on Wednesday for 12 projects that are expected to create about 1,700 new jobs.
The projects include those engaged in manpower recruitment; trading and shipping of minerals, plastic products, garments and construction supplies; manufacturing; hotel and restaurant operations, and research and development.
The companies involved include Asianpro Cooperative, Century Peak Corp., Coin Chemical Subic Inc., Gigatek Subic Bay Inc., Interisland Resorts and Services Inc., Inyoung-Philippines Inc., Mango Valley Corp., Shengkai Corp., Subic Amino Hightech Corp., Subic Executive Lofts Condominium Corp., Winstar Subic Display Corp. and Yienson Manufacturing Corp.
The biggest of the projects in terms of capital layout would be Yienson's $12-million (about P600 million) venture into the manufacturing, importation and export of semi-finished and finished garments.
Second biggest would be Inyoung's $10-million (about P500 million) project to manufacture, fabricate, construct and trade steel structures for another locator's facility that would rise at the Redondo peninsula within the freeport zone.
Also, Arreza said SBMA hoped that more airlines operators would consider doing business in the freeport after the Airport Operators Council last week held its yearly meeting at the Subic International Airport's facilities.
Affiliated with the Montreal-based International Air Transport Association, the AOC groups 48 international airline operators doing business in the country.
In March, Arreza announced that SBMA was offering discount rates on aeronautical fees of between 60 percent and 80 percent in an effort to attract more airline operators.
The fees cover the landing and take off, parking, lighting and other charges like those for the use of navigational equipment and radar.
Arreza had said SBMA was looking into the possibility of SBIA being able to service routes to "any point in Asia."
Current carriers using SBIA include Inter-Island Airlines, which offers chartered flights to Manila and Taiwan; Mandarin Air with flights to and from Taiwan; Cebu Pacific with flights from Incheon in South Korea, Air Philippines with flights to and from Hong Kong.
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