China“s Hebei Jingniu Crystal Ball Group Co Ltd will build a USD 312 million glass manufacturing plant at the former US military base in Subic Bay, north of the Philippine capital, Manila. Trade and …
China“s Hebei Jingniu Crystal Ball Group Co Ltd will build a USD 312 million glass manufacturing plant at the former US military base in Subic Bay, north of the Philippine capital, Manila. Trade and Industry Secretary Cesar Purisima hailed the move as the biggest single investment by China in the Philippine. The Chinese firm plans to build a 100-130 hectare industrial park at Subic where it would manufacture coated and crystallite glass lines. Other Chinese companies will also be invited to do business in the industrial park, Purisima said. Jingniu Crystal, which exports its products to more than 70 countries, will start its Philippine operations in the 4Q 2005. It is expected to provide 15,000 jobs. The investment commitment was finalized during Philippine President Gloria Arroyo“s recent state visit to China, the trade department said. Outside China, the company has manufacturing operations in Zimbabwe and Kenya.