$ 1-B Semiconductor Project to Proceed
CLARK FREEPORT, Pampanga - The $ 1-billion investment here of the world's biggest semi-conductor firm will not be affected by the "economic meltdown" in the United States.
Clark Development Corp. (CDC) president/CEO Benigno N. Ricafort said that electronic giant Texas Instrument (TI) will continue its operation inside this freeport despite the slowdown in the North America brought about by the on-going recession.
Ricafort said during the general membership meeting of the Philippine Constitution Association (Philconsa) last Tuesday at the Manila Hotel, that TI will generate some 6,000 employment opportunities once it starts full operation starting next year as phase one of the construction of the multi-billion-peso facility is nearing completion.
Ricafort, who was Philconsa's guest of honor and speaker during their recent meeting, said "TI is pushing through despite the economic meltdown in the US."
He added that the immediate challenge now is the Sacobia Area or Clark subzone which he dubbed as "The Next Frontier" which will initially cover the 10,684 hectare area, adding that the "next master development plan will be due by December this year; however by end of August, the conceptual land use plan should have been finished."
"The bigger challenge is the limited land available, only about 300 hectares in the Main Clark Zone and there is an on-going inventory on suitable land use. Unfortunately, there is a change in direction every time CDC presidency changes. Rest assured that we will respect the existing approved land use plans", he said.
There are 781 investors in Clark at present of the total number 55 investment projects were signed from January to October this year which bring fresh investment capital with a projected commitment of P14 billion in the next five years. …