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Manila Bulletin devider Business devider BCDA strikes four deals at Australian business summit

BCDA strikes four deals at Australian business summit

Published Mar 11, 2024 04:51 am

The Bases Conversion and Development Authority (BCDA) has partnered with four Australian companies to attract foreign investment and create more jobs in the Philippines.

The BCDA said on Monday, Mar. 11, that the agreements were part of the P86 billion signed investments during the Philippine Business Forum last week, led by President Marcos and the Philippines’ top economic and business leaders.

Special Assistant to the President for Investment and Economic Affairs Frederick Go led the efforts to invite more foreign investments in critical sectors like information and communications technology (ICT), energy, and infrastructure.

Their successful forum allowed them to sign a memorandum of understanding (MOU) with Kaizen ANZ Pty Ltd to develop, design, construct, commission, and funding of the Tier-3 Data Center in Poro Point Freeport Zone in La Union.

“This will provide the Philippines with a robust and scalable infrastructure for secure and efficient computer, network, and storage technology capabilities,” BCDA said.

The state-run company also signed an MOU with the St. Battalion GigaFactory Inc. to increase the 600-megawatt hour (MWh) of battery manufacturing in the Philippines to a two-gigawatt hour (GWh) in the next six years.

This deal would expand the local next-generation battery manufacturing industry, as well as introduce four new factories in New Clark City in Capas, Tarlac. With this, 500 jobs are expected to be generated by the expansion alone.

Energy Decarb Pty Ltd was also tapped to deliver decarbonization solutions in New Clark City and other properties owned by the BCDA.

“This deal includes the orchestration of renewable energy, storage, and e-mobility, aimed at reducing energy costs and reliance on grid power,” BCDA added.

In terms of smart transportation, Passenger Urban and Rapid Vehicles Solutions Inc. signed an MOU for potential electric vehicle partnerships within BCDA areas.

Passenger Urban will be responsible for the design, installation, and operation of fast-charging stations within smart city developments throughout the country.

BCDA President and Chief Executive Officer Joshua Bingcang shared that the collaboration would push inclusive economic growth and high-quality employment opportunities within the economic zones under their development.

“These agreements will help not just the BCDA but the whole country to navigate toward a safe and sustainable future in terms of digital transformation and renewable energy transition,” he added.

BCDA’s current projects like the New Clark City, which is a nearly 10,000-hectare green and smart city development within the Clark Freeport and Special Economic Zone.

Meanwhile, Poro Point in La Union is a 236.5-hectare investment and tourism hub in Northern Luzon. Poro Point has airport and seaport access, among other tourism facilities like the 65-hectare Mediterranean-inspired Thunderbird Resort.

Related Tags

New Clark City BCDA poro point La Union
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