Tuesday, November 25, 2008
[ philstar.com ]
CLARK FREEPORT, Pampanga: The $1-billion investment here of the world’s biggest semi-conducted firm would not be affected by the “economic meltdown” in the US.
Clark Development Corp. President/Chief Executive Officer Benigno Ricafort said that electronic giant Texas Instrument would continue its operation inside this freeport despite the slowdown in the North America brought about by the ongoing recession.
Ricafort said during the general membership meeting of the Philippine Constitution Association (Philconsa) on Tuesday at the Manila Hotel, that Texas Instruments would generate some 6,000 employment opportunities once it starts full operation starting next year as phase one of the construction of the multibillion-peso facility is nearing completion.
Ricafort, who was Philconsa’s guest of honor and speaker during their recent meeting, said, “Texas Instrument is pushing through despite the economic meltdown in the US.”
He added that the immediate challenge now is the Sacobia Area or Clark subzone which he dubbed as “The Next Frontier” which would initially cover the 10,684 hectare area, adding that the “next master development plan’ would be due by December this year; however by end of August, the conceptual land use plan should have been finished.”
“The bigger challenge is the limited land available, only about 300 hectares in the Main Clark Zone and there is an on-going inventory on suitable land use. Unfortunately, there is a change in direction every time Clark Development Corp. presidency changes. Rest assured that we will respect the existing approved land use plans,” he said.
There are 781 investors in Clark at present of the total number 55 investment projects were signed from January to October this year which brings fresh investment capital with a projected commitment of P14 billion in the next five years.-- Mark Louie P. Roxas
