Veneer and wood product manufacturer Wood Center of Asia Inc is investing 212.8m pesos setting up a factory at Subic Bay Freeport in the Philippines.
The company plans to operate a 30,614m2 plant and develop plantations in several areas of Luzon, growing gemilina, acacia and eucalyptus trees.
It chose Subic for its “excellent” port facilities, which are due for modernisation soon, making it easier to ship products to its markets in China, Japan and Korea.
About 85 workers will initially be employed at the manufacturing plant, with numbers set to rise to more than 1,000 because of community tie-ups with plantations throughout northern and central Luzon.
