Maharlika considers investing in BCDA Clark, Poro Point projects
THE Maharlika Investment Corp. (MIC) said it is considering investing in five projects of the Bases Conversion and Development Authority (BCDA).
On Monday, the MIC and BCDA signed a partnership to “explore investment opportunities within BCDA properties.”
The five projects are the Clark International Airport expansion; the New Clark City affordable housing project; the Clark Integrated Public Transport System; the Poro Point Seaport Modernization Program; and Clark Central Business District.
“Of course, we most definitely welcome MIC participation because… it’s a show of confidence in our projects that we can show to our investors abroad that the National Government is behind us in developing these programs,” BCDA President and Chief Executive Officer Joshua M. Bingcang told reporters.
These projects will require a total investment of about $4 billion. The MIC has yet to announce how much it plans to invest in these projects.
“Normally, when we do PPPs like this, the majority (60%) of the project cost will be by private sector. The 40% can be discussed among government partners. One of which is Maharlika, of course,” Mr. Bingcang said.
Some of these projects can also start as soon as this year, he added. — Luisa Maria Jacinta C. Jocson
