Article: Philip Morris starts phase 2 of P1-B Subic warehouse project.

Manila, August 24 (PNA) -- Philip Morris Philippines Manufacturing Inc. (PMPMI) has signed a 50-year lease agreement with the Subic Bay Metropolitan Authority (SBMA), increasing the company's investment in the freeport and paving the way for the construction of a P1-billion tobacco leaf regional warehouse.

The lease agreement was signed by SBMA administrator Armand Arreza and PMPMI managing director Christopher Nelson.

Under the agreement, PMMPI has increased the total land area of its project here to 49,279 square meters, from the current 9,600-square meter warehouse it has refurbished when it started its Subic operation in 2007.

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