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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