MVP Global signs $3-B cable deal with China's Suli


Posted at Oct 24 2016 03:10 PM

MANILA - MVP Global Infrastructure Group and Tianjin Suli Cable Group Co., one of China’s largest industrial conglomerates, have signed a $3 billion deal to produce high-end cables in the Philippines.

A new joint venture will be formed to produce ultra-high voltage cable, aluminum alloy cable, power cable, military industrial cables, and special cables.

"Globally competitive cabling is needed in order to achieve world class telecom, power and basic infrastructure. We believe this deal also re-affirms the growing economic ties between China and the Philippines," MVP's Enrique Gonzalez said in a statement.

The MVP Global and Suli deal is one of the agreements signed during President Rodrigo Duterte's recent state visit in China.

Suli, a state-owned high-technology company, is one of the largest cable manufacturers and distributors in Asia with over $15 billion in sales.

"This new opportunity for cooperation will also be a vehicle to introduce Philippine industry to our brand of manufacturing excellence," said Suli group chairman Zhao Junyin.