Chinese to invest USD10bn in Philippines

Chinese to invest USD10bn in Philippines

The Philippines Board of Investment has announced that five China-based firms have made applications to establish local companies, investing USD10 billion and aiming to create 15,500 jobs.
Huili Investment Fund Management Co Ltd wants to construct a steel mill facility where its Chinese partners can build local factories. 

YDT International hopes to build a USD1.5 billion shipbuilding and ship repair facility.

Liaoning Bora Enterprise Group Co Ltd. intends to construct oil projects including a storage terminal.
Dalian Wanyang is planning an energy project in Manila to produce 312 MW power by converting 4,000 to 5,000 metric tons of household and business solid waste.

Finally, Aviation Industry Corp of China (AVIC) hopes to enter the aerospace parts manufacturing and maintenance sector.

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