Philippines: Chinese investors to pour $1.38B into Visayas projects

Philippines: Chinese investors to pour $1.38B into Visayas projects

Chinese investors will be pouring $1.38 billion worth of environmental
waste-to-energy and housing projects in the Visayas region.

In a press conference late yesterday evening at the Waterfront Airport Hotel
and Casino in Mactan, officials of Anhui Shengyun Environmental Protection
Group and the Office for the Presidential Assistant in the Visayas (OPAV)
announced the planned project.

Kai Xiao Sheng, the group's chairman, said the implementation of these
projects would start by June and July whereas funds to commence the projects
will come in by August.

Sheng, who spoke through an interpreter, said that if plans will carry and
they can get their permits and licenses, then they plan to finish the
waste-to-energy project in 18 months.

"In spite of the challenging times happening in the Philippines, we are
still very confident about the Philippines because of the brilliant,
courageous and just leadership of President Duterte," said Sheng.

Aside from their investments, the group also announced that they will donate
P5 million to the city of Marawi, which is still suffering from terror
attacks, "to show our friendship and care."

Of the $1.38 billion investment, the group will allot $550 million for two
municipal waste renewable energy power plants in the Visayas, which can
treat 500 tons of biomass a day.

Another $100 million will be for biomass renewable energy power plants; $110
million will be used to establish a wastewater treatment plant; $220 million
for the establishment of a municipal sewage treatment plant; and another
$100 million for the improvement of four existing landfills to reduce soil
contamination.

Another $300 million will be allocated for road projects, bridges,
landscaping, utilities improvement and other public facilities investment
such as socialized housing.

In a press statement, Presidential Assistant for the Visayas Michael Dino
said this is just the "first of several investments" agreed and signed in
Cebu last December 2016.

"It is a good sign that China has trusted the Philippine government. The
Chinese government and the Chinese investors both believe that President
Duterte is in full control over the violence in Mindanao," said Dino in a
press statement which was read by his Chief of Staff Jonji Gonzales.

Dino was still with the President during last night's press conference. But
he, President Duterte and the Chinese investors were able to briefly meet
before the President's event at the Mactan Benito Ebuen Air Base.

Dino further explained that the planned housing projects will be made
available for government employees, especially the officers of the Armed
Forces of the Philippines and the Philippine National Police (PNP); and also
for informal and makeshift settlers.

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Link to Original Article:
http://cebudailynews.inquirer.net/135352/chinese-investors-pour-1-38b-visaya
s-projects

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com