P1.2-B Investment In Industrial Gas

CLARK FREEPORT, Pampanga - The leading manufacturer and distributor of Liquid and Cylinder Air Products in the Philippines is set to infuse at least $30 million (around P1.2 billion) for the establishment of its new plant inside this premier Freeport.

The Clark Development Corporation (CDC) announced yesterday that Ingasco, Inc., a joint venture between Japan's Taiyo Nippon Sanso Corporation (TNSC) and Caloocan Gas Corporation (CGC), will establish and operate an air separation plant facility for the existing and future industrial, medical and specialty gases to provide the requirements of several firms.

The plan is also aimed at further supplying the growing needs for industrial gas of semiconductor companies inside Clark.

The company will lease 17,816 sq. meters of area on Panday Pira Avenue, here.

The firm has also agreed to stay in Clark for 25 years and hire 20 workers in its initial operations.

"In our vision at year 2015, Ingasco's tough position in the Philippines will always be a leading, most reliable and cost efficient solution provider in the industry with world's class quality standard. This vision has defended the company's leadership in industrial gas domestically, with statistical record of impressive growth in sales performance of the company," Ingasco said