Chinese firm eyes infra investments in Cebu

Chinese company Third Harbor Engineering Co., Ltd. has expressed interest in investing into the local infrastructure projects of the province of Cebu, including the proposed Trans-axial Highway project and several other projects under Mega Cebu but insisted that these projects must first be lobbied by the local government of Cebu province to the national government for support.

This comes after Third Harbor chairman Fang Yan, through his translator, expressed during a meeting with Cebu provincial government officials led by Gov. Hilario Davide III yesterday afternoon that further studies about the projects should be conducted as well as concrete support from the national government be in place before they would proceed with investing on the projects.

The investment was believed to be part of the $24-billion deal that the country was able to secure from China after President Rodrigo Duterte’s state visit to the country last month.

Engineer Edgar Sibonga, executive director of the Provincial Water Resources Authority, said there is already a list of projects covered under the investment deal with China and that the provincial government of Cebu have to lobby its local projects in order for them to be included.

“Yes kay sa akong nasabtan, in that agreement, duna na diay list of priority projects ang national government nga ma-covered up niana,” said Sibonga, who used to be connected with the Capitol team, which conducted the pre-feasibility study of the Trans-Axial Highway.

“Mao na nga ipa-push, I-lobby gyud para ma-included ta.” Sibonga said that the Chinese company is interested in investing into the infrastructure projects of Cebu but wanted support both from the local and national government and details ironed out before they would commit to investing on the projects.