Phividec, future site of a $300M glass factory

With the formalization of friendly exchange relationship with the Harbin People's Municipality in China and Cagayan de Oro, industrialists from Xinghai City in China are considering Phividec as the site of their $300 million glass factory.

In a press statement sent to Sun.Star Cagayan de Oro it was learned that the corporate officials of Hebei Jingniu Group--the owner of the glass factory--and the government officials of Xingtai City informed Mayor Vicente Y. Emano and the trade delegation of their intention to come to Phividec for an ocular inspection of the site.

In a luncheon meeting between Mayor Emano and the trade mission team and the government of Xingtai City, the city officials and officers of the Hebei Jingniu Group expressed their gratitude to Mayor Emano and his group for the invitation to invest in Phividec and for taking time to visit their place.

A resolution passed by the Cagayan de Oro City Council and the Misamis Oriental Provincial Board inviting the Chinese industrialists to invest in Phividec was presented by Mayor Emano during the said meeting.

The business meeting between the trade delegation and Hebei Jingniu Group in Xingtai City came after a sisterhood city pact with Harbin City was signed by Mayor Emano.

The signing of the memorandum of understanding (MOU) between Harbin and Cagayan de Oro was done during the International Sister Cities Cooperation Forum that was participated by nine cities of Harbin from six countries, including the Philippines.

Mayor Emano and the trade delegation is optimistic that the signing of MOU will signal the influx of more Chinese and other foreign investors that will visit Cagayan de Oro for tourism and investment.

The establishment of a glass factory in Phividec will surely spell hundreds of employment opportunities and readily translates into improved economic condition of the people in Misamis Oriental and Cagayan de Oro as well. (With reports from the City Information Office)

600450 Phividec, future site of a $300M glass factory
Date: 21 June 2005

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