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

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.

Additional details

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.

Number of official sources

2

Number of total sources

9