NEWSFLASH

CAVITE ECOZONE EXPANSION EYED

Makati City, May 20, 2000 - Prompted by the success of the First Cavite Industrial Estate (FCIE), the National Development Company (NDC) is studying the development of the adjacent 20-hectare idle lot as an expansion project of the ecozone and is eyeing a joint venture partner for the project.

In the recent NDC board meeting presided by DTI Secretary and NDC Chairman Mar Roxas II, the state investment arm expressed confidence that it can replicate the success of the original FCIE project in the planned expansion on the 20 hectare property.

The NDC is considering several options for the lot. It may opt to develop the lot into a regional industrial center (RIC) which produces goods for both the domestic and foreign market. The new project could also become an export processing zone (EPZ) producing goods exclusively for the international market. Or it could stick to the old formula and be an RIC-EPZ estate which is the present composition of the FCIE.

FCIE' is a partnership between NDC and its Japanese counterpart, Marubeni and JAIDO. NDC owns 60 percent while the remaining 40 percent belong to its Japanese partner (Marubeni Corp. 32 percent, and Jaido, 8 percent).

It formalized its corporate birth with the SEC in 1990. By 1997, the lots in the ecozone were fully sold.

The 153.9-hectare FCIE caters to light-to-medium industries. It houses 36 locators and its industry mix in FCIE ranges from garments, electronics/semiconductor, car parts/accessories, steel fabrication, trading equipment, food/fruit processing, handicrafts to banking, to name a few. Some of the locators in the area include major names in the industry: Universal Robina, Nissin-URC, Kolin, Cambridge Electronics, SCA Hygiene, and HCG. To date, it employs 10.738 workers.

FCIE was able to pay 300% dividends to its stockholders. In April 2000, the ecozone paid final dividends of P8 million.