Philip Morris to invest P1B more in Subic warehouse
Subic Bay Freeport — Cigarette maker Philip Morris International (PMI) announced it will invest an additional P1 billion for the construction of phase two of the regional tobacco warehouse here.
During the inauguration of the first phase of the warehouse, Philip Morris Philippines Manufacturing Inc. managing director Chris J. Nelson announced they will put up a purpose-built warehouse beside the existing facility.
The soon-to-be- built warehouse, Nelson said, will be done in 2009 and will have a capacity of 24,000 metric tons of tobacco.
The phase two will be four times the size of the existing facility.
Philip Morris also inaugurated yesterday a P30 million facility at the
“What we are inaugurating today is just the first phase of our investment valued roughly P30 million,” he noted.
“In the future, PMI will expand this facility to include the construction of a new, state of the art warehouse that will be several times bigger than the capacity of Building 8120,” Nelson said.
Aside from Nelson, also present during the inauguration were Senator Richard Gordon, SBMA Administrator Armand Arreza, SBMA Chairman Feliciano Salonga and other executives of the company.
According to Nelson, the company chose
“Simply put,
The
The new facility will store tobacco leaf bought from suppliers in other Asian countries such as
With the warehouse expansion, Philip Morris will increase tobacco purchases not only from the country but also from other Asian countries. The leaf stored will be used for the production of cigarettes in their plants in the
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