Olongapo SubicBay BatangGapo Newscenter

Saturday, June 02, 2007

Clark firm thanks Arroyo for super region projects

CLARK FREEPORT-- Officials of the Clark Development Corporation (CDC) expressed gratitude to President Gloria Macapagal-Arroyo who recently assured the completion of the projects under the so-called super regions within the remaining three years of her administration.

The projects are expected to benefit Clark freeport because of the additional investments that could be generated from the government infrastructure projects.

Both North Luzon Railway (NorthRail) and Subic Clark Tarlac Expressway projects (SCTEP) are among the infrastructure projects that President Arroyo vowed to complete before her term expires in 2010.

Both projects would give unprecedented advantage to all investors as Clark and Subic will complement each other especially on the airport and seaport operations as well as other improved business atmosphere that could be generated by the interconnection of three economic zones, Clark Freeport, Subic Freeport and Hacienda Luisita economic zone.

The Arroyo administration focuses on completing its projects in the so-called super regions within the remaining three years of President Arroyo term before embarking on new ones.

Edgardo Pamintuan, chairman of the Subic Clark Alliance for Development, said the President also envisions SCTEP to spur development in Central Luzon because of the expected influx of investments, especially in several economic and freeport zones in Central Luzon.

Presidential economic adviser Joey Salceda has pegged the needed capital for the super regions project at P372.02 billion.

Around P181.15 billion will be used to construct railways while another P101.8 billion will bankroll the construction of new roads and highways in Metro Luzon.

Roughly P43.1 billion is earmarked for the development of airports, while the remaining P15.85 billion is set aside for construction and improvement of airport and seaports.

Economic Planning Secretary Romulo Neri said the President has already instructed various government agencies to work on the projects under the Medium Term Public Investment Plan.

"We already have plenty of projects in the pipeline. She (the President) wants to be sure the implementing agencies finish them before her term ends in 2010," Neri said.

Under the proposed super regions, government is proposing to create an agribusiness quadrangle in North Luzon and an industrial beltway in Metro Luzon.

Nearly half of the needed budget, or about P186.27 billion, will be bankrolled by the National Government or from overseas development assistance.

Government-owned and controlled corporations are supposed to chip in P116.01 billion of the entire capital requirement, while the private sector would contribute as much as P68.41 billion.

Local government units, on the other hand, will bring in P1.33 billion.
By Reynaldo G. Navales - Sun Star

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