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                                                                                                           Ms. Ronadale Zapata


Good prospect for additional jobs
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.

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