Philippine Standard Time:
  • Home
  • News
  • Chinese firm plans to establish textile mill in Cagayan

Chinese firm plans to establish textile mill in Cagayan

By: Kris Crismundo

MANILA — Another Chinese company is setting up its textile business in the Cagayan Special Economic Zone and Freeport (CSEZF) as the Cagayan Economic Zone Authority (CEZA) follows through on its efforts to lure investors from China.

In a statement Tuesday, CEZA Administrator and Chief Executive Officer Raul Lambino said the China Zhejiang Guannan Group is seeking to invest around USD100 million for a green textile industrial park in CSEZF in Sta. Ana, Cagayan.

Lambino said the Zhejiang Guannan Group is already “in the final phase of preparation” before signing an agreement with the agency.

He said the Chinese company will be needing 10,000 hectares of land in Sta. Ana and its neighboring towns, transforming the area into a green textile industrial park.

The industrial park will involve a textile production facility, power plant, water plant, sewage disposal system, waste processing facility, among other infrastructures.

Five executives are visiting the country this week to finalize the terms for this investment plan.

According to CEZA, the Zhejiang Guannan Group is based in Shaoxing in the eastern Chinese province of Zhejiang.

Aside from textile production, it has real estate developments including township projects in Shaoxing, Shanghai, and Hong Kong. (PNA)



Users Today : 253
Users Yesterday : 456
This Month : 14104
This Year : 113069
Total Users : 268954
Views Today : 868
Total views : 2329551


All content is in the public domain unless otherwise stated.


Learn more about the Philippine government, its structure, how government works and the people behind it.