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Overview

China National Heavy Machinery Corporation entered a MOA to build techno-industrial zone park at the Expanded Area of the Subic Bay Freeport Zone

Commitment Year•2018Country of Activity•PhilippinesDirect Recipient Country of Incorporation•PhilippinesSector•Industry, Mining, ConstructionFlow Type•Vague TBD

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018
Start (planned)
Aug 31, 2018

Geospatial footprint

Map overview

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The project establishes a techno-industrial park within the Subic Bay Freeport Zone. More locational data can be found at https://www.openstreetmap.org/way/317449618#map=15/14.8212/120.2850.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned companies

  • China National Heavy Machinery Corporation (CHMC)

Receiving agencies

Government Agencies

  • Government of the Philippines

Loan desecription

China National Heavy Machinery Corporation entered a MOA to build techno-industrial zone park at the Expanded Area of the Subic Bay Freeport Zone

Narrative

Full Description

Project narrative

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.