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Manila Bulletin devider Philippines devider National devider Marcos secures P86 B in business deals during Australia visit

Marcos secures P86 B in business deals during Australia visit

Published Mar 4, 2024 05:43 am

Twelve business deals and two letter of intent worth P86 billion have been secured by President Marcos during his second trip to Australia at the sidelines of his participation in the Association of Southeast Asian Nations (ASEAN)-Australia Summit.

The agreements and letters of intent (LOI) that were signed by the Philippine and Australian governments following Marcos' arrival in Melbourne on March 3 are the following:

  1. a memorandum of understanding (MOU) for the conduct of studies for the development, design, construction, commissioning and funding of a 303 data center with a capacity of 30 to 40 megawatt in the Poro Point Freeport Zone with a land area of 16 hectares.
  2. an MOU for expansion of StB next generation battery manufacturing and export operations in New Clark City
  3. an MOU for the deployment of decarbonization solutions comprising orchestration of renewable energy, storage, and e-mobility to new Clark City Stadium and other Bases Conversion and Development Authority (BCDA) sites
  4. an MOU for a collaborative partnership on the development of electric transportation framework throughout the properties associated with BCDA in the Philippines and Passenger Urban and Rapid Electric Vehicles Solutions Incorporated or Pure-EVs
  5. ​an MOU to support a Philippine project that will provide 500,000 housing units in the next 5 years to identified beneficiaries
  6. an LOI to signify a strong interest for the development of a biomass fuel simple heigh temperature gas coal power plant with a 40-megawatt base load power to deliver a safe, sustainable, affordable, carbon neutral green-based load in the Philippines
  7. an MOU for an Australian-Philippines strategic alliance of four entities working together to accelerate closing the loop on plastic waste for the betterment of the environment, communities and people while solving one of the greatest global challenges in plastic recycling
  8. an MOU covering the manufacturing of portable, affordable and accessible automated external defibrillator solutions branded as CellAED
  9. an MOU covering the distribution of portable, affordable and accessible automated external defibrillator solutions branded as CellAED.
  10. an LOI to signify the interest for the development of digital health services with a particular focus on artificial intelligence and machine learning
  11. an agreement, where National Development Company (NDC) will partner with Cyclion Holdings for the transfer of its waste to energy technology to the Philippines that converts biowaste to green fuel
  12. an MOU to establish a globally recognized institute in the Philippines, focused on developing a robust biosecurity supply chains across Southeast Asia that will deliver significant economic and environmental social benefits for the region
  13. an MOU for the development of a 200 megawatt hour to 400 megawatt hour battery energy storage system in New South Wales Australia
  14. an MOU to provide cooperation framework to pragmatically progress the PPA documentation for up to 200 megawatt optic of the New England solar project in Australia to deliver and foster a long term relationship for the supply of renewable energy

According to Department of Trade and Investment (DTI) Sec. Alfredo Pascual, the business deals are poised to drive the investment relationships between the Philippines and Australia as well as contribute to Philippine economic growth.

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Noel Pabalate (MANILA BULLETIN)

“These agreements signify our unwavering commitment to excellence and fruitful partnerships spanning diverse sectors such as renewable energy, waste-to-energy technology, organic recycling technology, countryside housing initiatives, the establishment of data center, manufacturing of health technology solutions, and digital health services,” Pascual said.

​The trade chief the sectors are indicative of future Philippines-Australia business engagements, which serve as the tangible outcomes of investment promotion and ​ nchor ongoing and future Philippines-Australia business engagements.

He added the business partnerships will also provide a solid foundation for sustained growth and mutually beneficial partnerships in the years ahead.

​President Marcos' Melbourne trip until March 6 is his second visit to Australia after his state visit there on Feb. 28.

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