Japan Firm Sets P1.7-Billion DVD Disk Drives Expansion

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Byline: BERNIE CAHILES-MAGKILAT

Japanese-owned Kyushu Matsushita Electric Corp. of the Philippines is investing P1.746 billion for a five-year expansion program of its local manufacturing operation of DVD Multi Disk drives project in Carmelray Industrial Park II.

This was announced by Philippine Economic Zone Authority Director General Lilia B. de Lima following the board's approval of the additional investments. Of the total project cost, P847.49 million would be initial cost of the expansion which started commercial operation this month. The initial investments would be funded through internally-generated funds of P300 million and advances from its parent company …