A Japanese company will invest P4.2 billion to expand its product line in Subic Bay Freeport, an official said. | joannaglibotINQ /PDI
The Nidec manufacturing facility in Subic Bay Freeport will expand its product line and will hire 1,074 more workers, according to Rolen Paulino, chair and administrator of the Subic Bay Metropolitan Authority.
SAN ANTONIO, Zambales — A Japanese company will invest P4.2 billion to expand its product line in Subic Bay Freeport, an official said Monday. The Nidec Corporation’s new investment will involve the production of precision gearboxes that ensure smooth and efficient gear operation in a wide range of applications such as robotics, aerospace, and solar tracking.According to Rolen Paulino, chair and administrator of the Subic Bay Metropolitan Authority , Nidec’s expansion project in the freeport is among the 35 key deals inked during President Ferdinand Marcos Jr.’s visit to Japan.
“This new venture by Nidec Subic is a validation of the foreign investors’ strong confidence in the leadership of President Marcos and the Subic Bay Freeport, ” Paulino said in a statement.
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