Chinese glass maker to invest P17.4 billion

A proposed P17.47-billion ($312 million) industrial park that will house the glass manufacturing facilities of Hebei Jingniu Crystal Ball Group Co.

Ltd. would be the single biggest investment of China in the Philippines, Trade Secretary Cesar Purisima told reporters Friday.

Jingniu Crystal Ball is planning to establish an industrial park inside either the Subic Bay Free Port and special economic zone or the Bataan Techno Park, which will include its proposed glass manufacturing facilities and power generating plants, Purisima added.

Last year, China emerged as the country’s sixth-largest source of foreign direct investments after the United States, Japan, Taiwan, Australia and Korea. Chinese investments worth P310.8 million were registered last year with attached agencies of the Department of Trade and Industry.

Facilities that would be established inside the proposed 130-hectare industrial park include two online float coated glass lines, two high-tech rolling crystallite glass lines, a glass deep processing line and a crystallite glass deep processing line.

Purisima added that the Chinese firm is also contemplating on putting up a power generating plant with a capacity of 30,000 kilovolt-amperes and a plastic yacht line that is currently not produced in the Philippines. It intends to start commercial operations by the fourth quarter of next year and is expected to generate employments for 15,000 workers.

The facility would be highlighted during the visit of Chinese President Hu Jintao to the Philippines next year.

Jingniu Crystal Ball is one of only three glass companies in the world that own patents to glass production. It has seven national patents for rolling crystallite glass and online solar control reflective glass.

Purisima told reporters that the Chinese firm is also contemplating on atttracting other Chinese companies to set up shop inside the proposed industrial park.

Jingniu Crystal Ball is a pioneer in high-technology production of rolling crystallite glass and online float coated glass. It presently has four online float glass lines, two rolling crystallite glass lines and a wired patterned glass line. It also has manufacturing and trading companies in Zimbabwe and Kenya.

It produces a variety of float sheet glass, solar-control reflective glass and rolling crystallite glass in various colors and specifications. Its products are exported to more than 70 countries in Europe, Asia, the United States and Africa.

600450 Chinese glass maker to invest P17.4 billion
Date: 13 September 2004

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