CLARK FREEPORT – Officials of the Clark Development Corporation (CDC) announced that a Chinese metal pipe firm is set to pour more than $35 million for the establishment of a metal pipe fabrication plant inside this freeport following the signing of a lease agreement on Thursday.

CDC President Benigno N. Ricafort said the state-run firm signed a lease agreement with HLD Clark Metal Pipe Co., Inc. headed by its president Feng Zhenwei.

During the signing, Gao Wenge, HLD Clark Metal Pipe vice president, was also present during the signing of 25-year accord with the state-owned corporation.

Ricafort said the pipe firm is a subsidiary of Huludao City Steel Pipe Industrial Co., Ltd. which was founded in September 1993, specializing in producing high-frequency straight line welding pipes, being used as casing pipe for petroleum products.

The project will be a first of its kind in Clark and among the biggest industrial investors who saw the potential of the freeport as investment haven in Asia, said Ricafort.

The metal pipe project is expected to fabricate carbon steel, carbon steel pipe and petroleum pipe,
Ricafort said project will be located on a 52,700 square meters raw land along MA Roxas Highway inside the freeport.

It metal pipe plant is expected to employ 160 workers in the first year of operations of the Chinese firm.