Posted on October 05, 2012 08:10:08 PM
[ BusinessWorld Online ]
FILIPINO-JAPANESE industrial gas firm
Ingasco, Inc. has signed a lease agreement with the Clark Development Corp.
(CDC) to build a plant in Clark Freeport Zone, the government firm said in a
statement on Friday.
Ingasco will invest $30 million to
establish and operate the air separation plant, CDC said.
An air separation plant breaks down
air into components like oxygen, nitrogen and helium which is then supplied to
firms.
The plant will provide industrial,
medical and specialty gas requirements for firms like semiconductor facilities
in Clark.
The plant will be located in a
17,816-square meter area along Panday Pira Avenue.
Part of the firm’s lease agreement is
to hire an initial 20 workers for its facility.
It will operate in the Freeport for 25
years.
Ingasco is a Filipino firm engaged in
the production, marketing and distribution of oxygen, nitrogen, argon,
hydrogen, acetylene, carbon dioxide and other gasses. It also manufactures gas
equipment.
It is a joint venture of Japanese firm
Taiyo Nippon Sanso Corp., which distributes industrial gas, and Caloocan Gas
Corp. It already operates an air separation facility in Batangas.
The facility was first floated as a
possible investment in the country when President Benigno S.C. Aquino III
visited Japan in late-September last year. -- ENJD
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