US firm eyes Clark investment of $400m
An American engineering firm has expressed interest in investing about $400 million, approximately P20 billion, for the development of the Diosdado Macapagal International Airport at Clark Special Economic Zone and an additional amount for the preparation of a master plan for the Subic-Clark Corridor.
Subic-Clark Alliance for Development chairman Edgardo Pamintuan, in a statement, said LPA Group Inc. of South Carolina, reputedly one of the 20 best airport design services firms in the United States, wanted to help develop the Subic-Clark Corridor into world-class logistics hub.
Pamintuan said Dennis Wiehl, vice president for international operations of the LPA Group, sent two letters to President Gloria Macapagal Arroyo informing her of the company’s investment plan for the country.
He said LPA Group offered to prepare the master plan and environment study for the airport, as well as the areas traversed by the Subic-Clark-Tarlac Expressway in Pampanga, Tarlac and Zambales.
The US firm, he said, was on the final stages of arranging a $400-million loan agreement with US Eximbank to finance the airport project.
Separate financing was also being arranged for the master plan of the corridor, Pamintuan said.
“Right now, we are expanding the current terminal building of the DMIA initially to accommodate the dramatic growth of passenger traffic since the airport became a hub for domestic and international budget airlines,” he said.
Pamintuan said the plan was to develop airport as the premier international gateway of the Philippines for human traffic and flow of goods and services to and from other Asia-Pacific countries.
He said President Arroyo wanted to develop Clark and Subic, former American military bases, into a world-class logistics hub.
The offer of the US group, he said, was a welcome development since Clark and Subic used to be very important security facilities for the Americans.
In 1991, American troops from Clark and Subic abandoned the two bases following the eruption of Mount Pinatubo in Zambales and the termination of the RP-US military bases agreement.
“Now that the two facilities have been completely converted to civilian and economic uses, perhaps the US can also help boost our efforts. Indeed, we welcome the return of the Americans in Clark and Subic, specifically American companies involved in logistics, communications and information technology,” he said.
The government plans to expand and develop the airport at a cost of up to P56.5 billion, which would enable it to accommodate more than 10 million passengers annually, up from 500,000 passengers in 2006.
Development of the facility will start this year and to be completed until 2010.
Subic-Clark Alliance for Development chairman Edgardo Pamintuan, in a statement, said LPA Group Inc. of South Carolina, reputedly one of the 20 best airport design services firms in the United States, wanted to help develop the Subic-Clark Corridor into world-class logistics hub.
Pamintuan said Dennis Wiehl, vice president for international operations of the LPA Group, sent two letters to President Gloria Macapagal Arroyo informing her of the company’s investment plan for the country.
He said LPA Group offered to prepare the master plan and environment study for the airport, as well as the areas traversed by the Subic-Clark-Tarlac Expressway in Pampanga, Tarlac and Zambales.
The US firm, he said, was on the final stages of arranging a $400-million loan agreement with US Eximbank to finance the airport project.
Separate financing was also being arranged for the master plan of the corridor, Pamintuan said.
“Right now, we are expanding the current terminal building of the DMIA initially to accommodate the dramatic growth of passenger traffic since the airport became a hub for domestic and international budget airlines,” he said.
Pamintuan said the plan was to develop airport as the premier international gateway of the Philippines for human traffic and flow of goods and services to and from other Asia-Pacific countries.
He said President Arroyo wanted to develop Clark and Subic, former American military bases, into a world-class logistics hub.
The offer of the US group, he said, was a welcome development since Clark and Subic used to be very important security facilities for the Americans.
In 1991, American troops from Clark and Subic abandoned the two bases following the eruption of Mount Pinatubo in Zambales and the termination of the RP-US military bases agreement.
“Now that the two facilities have been completely converted to civilian and economic uses, perhaps the US can also help boost our efforts. Indeed, we welcome the return of the Americans in Clark and Subic, specifically American companies involved in logistics, communications and information technology,” he said.
The government plans to expand and develop the airport at a cost of up to P56.5 billion, which would enable it to accommodate more than 10 million passengers annually, up from 500,000 passengers in 2006.
Development of the facility will start this year and to be completed until 2010.
posted by OlongapoCity Zambales at
9:58 AM
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