Ford to invest $20m in Philippines

Thu, 22 Dec 2005 | Source: AFP

MANILA: U.S. automaker Ford Motor Co said on Wednesday it plans to invest about US$20 million to build a "flexible fuel" engine factory in the Philippines, its first in Asia.

These engines are designed to operate on either conventional gasoline or a combination of gasoline and bio-ethanol fuels, a company statement said.

The investment translates to production of 100,000 engines over the next five years valued at about $100 million, the company said.

Start-up activities are scheduled in the first quarter of 2006, with full production to begin before the end of next year. -- AFP

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