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Chinese company to invest $100M in Cagayan

By: ANNA LEAH E. GONZALES
ManilaTimes.net

A diversified Chinese company based in Shaoxing, China is planning to invest $100 million for a “green textile industry park” at the Cagayan Special Econonic Zone (CEZA) in Sta. Ana, Cagayan.

In a statement, the CEZA said officials of China Zhejiang Guannan Group, led by its Chairman of the Board Shaoxiong Cai, are currently in the country to finalize details of the investments.

CEZA Administrator Raul Lambino said a formal memorandum of agreement is expected to follow soon.

Lambino said up to 10,000 hectares of land in Sta. Ana and other neighboring towns could be developed to accommodate the requirements of the green textile industry park sought by the Chinese firm.

“Among other structures, the park will build its own power plant, water plant, sewage disposal plant, waste processing plant and other facilities and infrastructure,” said Lambino.

https://www.manilatimes.net/chinese-company-to-invest-100m-in-cagayan/474520/

 

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