Rumors: Texas Instruments planning a new plant in Philippines

Industry sources in Manila are claiming that the US based mobile phone chip maker Texas Instruments is considering establishing a second plant in Philippines.

Market sources claim that the company could come out with their formal announcement sometime today. They already have a 25-hectare complex in Baguio City in the northern Philippines.

TI has been considering locations for their new plant in both Philippines and China. They are likely to invest around USD 1 billion on their new plant.

Philippines President Gloria Macapagal Arroyo is currently scheduled to speak at a news conference at 0230 GMT and it is likely that he would be revealing some big investment plans in the country.

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