Philippine Standard Time:
  • Home
  • News
  • Chinese firm sets P5B green textile project

Chinese firm sets P5B green textile project

By: Malaya Business Insight

China’s Zhejiang Guannan Group eyes a $100-million “green textile” industry park in Cagayan Special Economic Zone and Freeport in Sta. Ana, Cagayan.

Officials of the China Zhejiang Guannan Group, led by its chairman of the board Shaoxiong Cai are in Manila this week for the final phase of preparation before committing to a formal memorandum of agreement with the Cagayan Economic Zone Authority (CEZA),

Shaoxiong signed a memorandum of understanding with CEZA deputy administrator Agrimero Cruz where the company indicated its intention to locate in the special economic zone and Freeport.

Secretary Raul Lambino, CEZA administrator and chief executive officer, said apart from textile production, the China Zhejiang Guannan Group is also into real estate development in Asia.

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, Lambino said in a statement.
Green textile is a growing trend in manufacturing textile using technology with minimal impact on environment.

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

The Chinese firm will also invest heavily in the development of townships and real estate following its major projects in Hong Kong, Shanghai and Shaoxing.

Zhejiang Guannan Group is a diversified Chinese company based in Shaoxing in China’s eastern Zhejiang province


Users Today : 637
Users Yesterday : 549
This Month : 17005
This Year : 115970
Total Users : 271855
Views Today : 58217
Total views : 2412875


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.