[ Malaya.com.ph ] May 17, 2011
Three major expansion projects at the Clark Freeport zone are expected to boost investments, employment and exports at the former US military air base.
Yokohama Tire Philippines Inc. (YTPI), one of the Clark Freeport’s top-performing Japanese export firms, is set to break ground on May 23 for its $600 million expansion project.
The expansion aims to increase the company’s tire production capacity from 7 million tires per year to 10 million.
The project is expected to add another 3,000 Clark employees by 2013.
Semiconductor giants Texas Instruments and Phoenix Semiconductor Philippines Corp. are also seen lifting economic figures at Clark.
Phoenix, a Korean firm that is investing $2 billion, will soon start commercial operations with about 3,000 workers.
In the first phase of the Phoenix project, exports will amount to $300 million to $400 million per year.
US-based Texas Instruments is entering phase 2 operations of its $1.5-billion investments, generating annual exports of $3 billion and employment of 3,000.
In 2010, exports generated by locators in Clark reached $1.34 billion. Clark also generated P6.364 billion in actual investments in 2010.
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