Philippine province bids for USD 300 million Chinese development

The Phividec Industrial Estate in the Philippine province of Misamis Oriental has formally applied to host the USD 300-million glass plant of China“s Hebei Jingniu Group of Companies.
The news emerg…

The Phividec Industrial Estate in the Philippine province of Misamis Oriental has formally applied to host the USD 300-million glass plant of China“s Hebei Jingniu Group of Companies. The news emerged after a meeting between Cagayan de Oro city mayor Vicente Emano and Hebei Jingniu Group officials in Xingtai City, China on 18 June 2005. The mayor said Heibei officials are now considering the offer from the Cagayan de Oro City government and the Misamis Oriental provincial government to locate the USD 300-million glass plant at the Phividec industrial estate in the town of Tagoloan. Mayor Emano said he had presented Hebei officials with resolutions of the Cagayan de Oro city council and the provincial board of Misamis Oriental offering a 100-hectare property inside Phividec. Other regions, mostly in Luzon, are also bidding for the plant. Philippine Sinter Corp., Elegant Chemical Alloy Corp., Enrico-Agri Ventures and San Miguel Foods, Inc are among the firms with a presence at the 3,000-hectare industrial estate, which is managed by the Phividec Industrial Authority, a government-owned and -controlled corporation. Following the meeting in China, the mayor said Heibei officials are to visit Phividec in the next two months to inspect the site. If Hebei agrees to locate in Phividec, it will create hundreds of jobs for the people of Cagayan de Oro and Misamis Oriental, the mayor said.