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Japanese Company to Invest 23 Million Dollars in Macao
Sumitomo Bakelite, which is considered as the pioneer of plastics in Japan, plans to invest 23 million US dollars in China's Macao Special Administrative Region (SAR).
This will be the largest sum of Japanese investment in Macao, the Information Bureau of the SAR government has said.
The money will be used to set up a production line of epoxy resin copper-clad laminates, which is scheduled for operation at the beginning of 2003.
The demand for the product, which is widely used in computer wiring board, is growing significantly in Asia.
Company authorities said that Sumitomo Bakelite decided to invest in Macao since the SAR was "an ideal logistics base" for the south Chinese market with "sound incentives and infrastructure."
Sumitomo Bakelite manufactures a variety of synthetic resins and related products for a wide range of applications in the industries of electronics, information communications, automobile, medical equipment, packaging and building materials.
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