Philippine President Gloria Macapagal-Arroyo witnessed the signing of a 50-year lease between China“s Hebei Xintai Jingniu Glass Manufacturing Group and the Subic Bay Metropolitan Authority (SBMA) on…
Philippine President Gloria Macapagal-Arroyo witnessed the signing of a 50-year lease between China“s Hebei Xintai Jingniu Glass Manufacturing Group and the Subic Bay Metropolitan Authority (SBMA) on 8 June 2006 for the construction of a USD 312 million glass production facility at the freeport. Under the agreement signed by Hebei Chairman Wang Chang Lin, SBMA Chairman Feliciano Salonga, and SBMA Administrator Armand Arreza, the Hebei group will set up a plant on a 32 hectare site at the Maritan Hill area along Argonaut Highway. The signing ceremony was also attended by Trade and Industry Secretary Peter Favila and Subic-Clark Area Development Chairman Edgar Pamintuan. President Arroyo said the agreement, which would create more than 2,000 jobs, is one of the beneficial results of her state visit to China in 2004. Wang Chang Lin informed the President that the facility will produce high technology, heat-resistant, coated glass and other cutting edge glass products which will be marketed in more than 96 countries. The Hebei Chairman said production will start as early as 2006 and will turn the Philippines from a glass importer into a glass exporter.