Two firms invest P100M in Naga City
CEBU, Philippines - Two companies, a chicken dressing plant and a steel firm, have invested over P100 in the City of Naga.
Mayor Valdemar Chiong told The FREEMAN that the two firms have started building their plants and are expected to start their operations this year.
“We are expecting more than P100 million investment,†Chiong said.
The City of Naga is now considered as the industrial hub of the south with several companies operating in the city.
Some of the big industries are the 200-megawatt Kepco-Salcon Power Corp. (KSPC) and the Sarimanok Feed Mills.
The city’s revenues have increased because of these investors.
The city’s budget last year was only P180 million but it was increased to P535 million this year and this will be sourced from the city’s Internal Revenue Allotment share of P242 million and P293 million from local revenues.
Chiong assured the Nagahanons to deliver projects and basic services even to the remotest barangays. — (FREEMAN)
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