ASAHI Glass of Japan will invest 10.1 million dollars in the Philippines to produce glass for solar panels in this country, the Department of Trade and Industry said Tuesday.
Asahi Glass Philippines, a wholly owned subsidiary of Asahi Glass Co. of Tokyo, will manufacture solar cover glass for flat plate solar panels, to be exported to Japan starting in 2005, the department said in a statement.
The deal will make the Philippines the first country in Southeast Asia to produce glass for solar panels, the department said, adding that the project is expected to bring in 25 million dollars in export revenues annually.