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