GM to build Philippines plant

MANILA: General Motors is to invest about US$266 million in a new production facility in the Philippines.

The plant is expected to be operational by 2000 and will include an export-oriented transmission factory with a capacity of 100,000 a year.

The plant will also assemble the small Corsa and Tigra cars.

The Philippines had originally been in the running to be GM's major Asian manufacturing center but lost out when the U.S. firm decided in the middle of last year to invest $750 in facilities in Thailand.