Texas Instruments plans Philippines plant-sources

MANILA, May 3 (Reuters) US-based Texas Instruments Inc , the world's biggest maker of mobile phone chips, is planning a second production plant in the Philippines, industry sources in Manila said today.

The sources said a formal announcement on the plant was likely to be made later today.

The company currently has a 25-hectare complex in Baguio City in the northern Philippines, and has been scouting for a new site in either the Philippines or China. The investment is likely to be around 1 billion dollar, government officials had said previously.

President Gloria Macapagal Arroyo has called a news conference at 0230 GMT and palace officials have said a major investment is likely to be announced.

REUTERS PBB BST0800