PAMPANGA — A huge apparel manufacturing firm has poured some USD 6.5 million investments for its expansion project inside this Freeport.
The 25-year extension on lease agreement was signed between Clark Development Corporation (CDC) president Arthur P. Tugade and L&T International Group Philippines, Inc. (LTIGPI )president Francisco Sauceda.
The agreement will also be sent to Bases Conversion and Development Authority (BCDA) for concurrence.
LTIGPI has been one of the pioneering manufacturing firms in Clark.
In the agreement, LTIGPI will expand its property in compliance with the requirements set by their clients.
L&T has been known as the manufacturer of internationally known apparel maker such as Ralph Lauren, Nautica, Victoria’s Secret, among others.
The agreement include the expansion of the lease area where six buildings with an average of 70,000 square meters will be constructed for the new workers to be hired in the coming years.
By the end of year 2020 or within 2 years from turn-over of expansion areas depending on which of the two comes first, the extension project will generate 5,000 job opportunities.