Petrochemical industry expected to earn taxes of P1 bln pa by 2010 in Bataan

30-Oct-09

Income in the form of taxes from the petrochemical industry in Limay town is expected to earn the province an estimated P1 billion every year by 2010 to the province of Bataan. Income will start flowing in when the three mainstream plants expand to 100 downstream plants. Since 1988, the provincial government has been collecting taxes to the tune of P150 mln pa from the operation of the petrochemical industry in Limay. An additional P120 mln pa as taxes will be collected by the provincial government with the expansion of the facilities in Limay of the petrochemical industry.