Good prospect for
additional jobs
VP HAILS REOPENING OF PETROCHEMICAL PLANT
IN BATAAN
21 December 2005
The
recommisioning of the polyethylene plant in Mariveles, Bataan is a most
welcome development. Not only have we achieved another milestone
towards the promotion of bilateral relations between the Republic of
the Philippines and the Islamic Republic of Iran, but more
significantly, it is a breakthrough in the development of the
petrochemical and plastic industries in the Philippines.
Vice
President Noli ‘Kabayan’ De Castro was welcomed by Deputy Petroleum Minister
of Iran Mohammad Reza
Nematzadeh, NPC Ltd. Chairman (left); H.E. Jalal Kalantari, Ambassador of the
Islamic Republic of Iran (2nd
left); and Mr. Renato Magadia,
NPC Alliance Corp. Chairman upon his arrival at the Manila Pavilion in Makati City for the
signing of the Joint Venture
Agreement between NPC Alliance Corp., Polymax Worldwide Ltd., and NPC
International and
Petrochemical Industries Investment Company. (OVP photo by Egay Montaña 12/21/05)
This
is the message of Vice President Noli 'Kabayan' De Castro after the
signing ceremony between the two countries after almost a year of
negotiations which started during the 4th Joint Commission Meeting of
the Philippines and Iran for a joint venture corporation that will put
the plant to eventual commercial operation. The plant has remained idle
and unused for several years now.
With the
recommissioning of the Bataan polyethylene plant come new
opportunities, not just for the people of Mariveles or Bataan but also
for the entire country.
In his
message, Vice President De Castro estimated that the direct employees
of NPC Alliance Corporation could reach 250 individuals once the plant
becomes fully operational. On top of this, he is optimistic that new
jobs will also be created by downstream manufacturers of plastic
products. In the long run, he expects a substantial multiplier effect
from this joint collaboration, especially in the area of job
generation.
Furthermore
and on a national scope, the Vice President gladly pointed out that the
joint venture would help in reviving the country's petrochemical
industry by providing a more reliable and stable supply of raw
materials for the production of plastic products.
As a result,
Vice President De Castro continued, this initiative would make the
local plastic industry less dependent on imported raw materials needed
for the production of plastics that would redound to lesser production
cost and inexpensive but good quality plastic products.
Indeed, this development is
one more reason for us to be more bullish in the coming year about our
economy, in general, and the petrochemical and plastic industries in
particular.
Ref. VPMEDIA 05-199
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Division (MISD). All rights reserved.