Investment News Analysis

Foreign investors flock to Green City

One year after the Philippine parliament gave its approval for the development of Clark Green City (CGC), on 9,450 hectares of land close to Capas in Tarlac province, the Bases Conversion and Development Authority (BCDA), the government-owned authority for the area, has signed a JV agreement with Japan Overseas Infrastructure Investment Corp. to deliver a detailed master plan for the city within 12 months. That blueprint will also contain provision for a rail network that will link CGC with Manila and other cities in Northern Luzon.

Meanwhile, other CGC/foreign partnership deals are going ahead.

UAE-based, Al Ahli Holding Group, is to develop tourism-related enterprises in the area and will assign “hundreds of millions of dollars” to the projects, according to its CEO, Mohammed Khammas.

IVL Swedish Environmental Research Institute (part Swedish-government owned) is partnering with the BCDA to design and install “smart and disaster-resilient” features at CGC.

An agreement has been signed between the BCDA and leading eco-industries developer, Paris-based Vivapolis. Its role is to foster technical cooperation in the development of the Green City by promoting sustainable resource management, inclusive growth, innovation, disaster resiliency, and enterprise development.

And over the next two years, Singapore-based SSR Group will invest US$21.43 million to establish a solar-energy farm that will generate 20MW of electricity for the national grid which will provide sufficient power for 10,000 households. Under the agreement, SSR C-Solar Power, Inc. will receive a 25-year lease for 25 hectares of CGC land.

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