Author Topic: 3 major China-PH projects starting  (Read 263 times)

adroth

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3 major China-PH projects starting
« on: January 04, 2020, 01:54:06 PM »
3 major China-PH projects  starting
Published January 4, 2020, 12:30 AM

https://news.mb.com.ph/2020/01/04/3-major-china-ph-projects-starting/

Three  major  China-Philippines  projects  took off in the closing months  of 2019 – the start of the Reed Bank  joint  gas and oil development west of Palawan,  President  Duterte’s directive to proceed  with the P12.2-billion  Kaliwa Dam project  in Rizal and Quezon, and the roll-off of the P175-billion 650-kilometer South Rail Long Haul project  in Bicol.

These  are  three  of the projects  funded  by grants and loans from China.  These grants  totaled  $398 million in 2019,  with $400 million more expected  in  2022. These  are  on  top of  $500 million in soft loans granted for 2020 and planned in succeeding  years.

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Aside from  Reed Bank, Kaliwa Dam, and  South Rail,  other new projects under “Package  2” are due to start,  including the Mindanao Railway,  the Davao Expressway, and the Iloilo-Guimaras-Negros bridge.  This may  yet be  the biggest year  in Philippine-Chinese economic relations.