Loading grant details…
China National Heavy Machinery Corporation entered a MOA to build techno-industrial zone park at the Expanded Area of the Subic Bay Freeport Zone
| Funder | China National Heavy Machinery Corporation (CHMC) |
|---|---|
| Recipient Organization | Government of the Philippines |
| Country | Philippines |
| Start Date | Jan 01, 2018 |
| End Date | Oct 09, 2033 |
| Duration | 5,760 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66034 |
Grant Description
On August 31, 2018, China National Heavy Machinery Corporation (CHMC) signed a Memorandum of Agreement for the development of the techno-industrial zone park at the Expanded Area of the Subic Bay Freeport Zone.
This agreement was signed with Hermosa Municipal Mayor, Jopet Inton, and Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator, Wilma Eisma, at the SBMA Administration Building Board Room. A letter of intent was previously signed for the project on April 10, 2018. The proposed project was said to cost USD $650 million, and was intended to cover 990 hectares in Tarlac and Subic Bay.
The park was also intended to be operated by China National Machinery Corp. As of September 2021, no Chinese financing for the project had been provided.
Staff Comments
In October 2019, a 'Subic techno-eco park project' was launched by a Taiwanese firm. As such, this Taiwanese firm may have replaced CHMC's proposed project.
Sources & References
- Chinese firm building Subic techno-industrial facility
- Mayor Inton
- SBMA sign deal with Chinese builder of techno-industrial zone
- Philippines
- Chinese companies sign multi-billion worth of projects, ‘Dragon’ seen to fire up PH market, 9 Chinese firms to invest in Philippines
- Chinese firm building Subic techno-industrial facility
- China
- PHL eyeing $8.4-billion industrial park investments
- IMPACTS FROM THE PHILIPPINES’ “PIVOT” TO CHINA: COSTS AND BENEFITS
- P15-billion Subic techno-eco park project launched by Taiwan firm Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Government of the Philippines
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
