Wednesday, April 09, 2008 [ manilatimes.net ]
By Darwin G. Amojelar, Reporter
THE board of the National Economic and Development Authority (NEDA) on Tuesday approved the guidelines covering government and private sector partnerships, paving the way for the investment of a Chinese real estate firm in a prime lot at the Bonifacio Global City in Taguig City.
Acting Socioeconomic Planning Secretary Augusto Santos said the NEDA board has approved the guidelines for all negotiated projects that government agencies and private sector firms will undertake as joint ventures.
Santos said the approved guidelines will pave the way for the development of the $2-billion project at the Bonifacio Global City proposed by Chinese real-estate giant Shimao Property Holdings Ltd.
“With the approval of the guidelines, the [Shimao] project may push through,” he said.
Besides developing a property in Taguig, the Chinese firm is also planning a 500-room resort with two towers in Calicoan Island in Guiuan, Eastern Samar.
Earlier, NEDA announced 10 priority projects that will be implemented through public and private partnerships. These are the Operation & Maintenance (O&M) of the Subic-Clark-Tarlac Expressway (SCTEx); the 300-million-liter water per day (MLD) project of the Metropolitan Waterworks and Sewerage System (MWSS) worth P5.20 billion; the 50-MLD Wawa River Project worth P1.95 billion; and the Department of Energy’s Power Capacity Requirements for the Luzon Grid of 1,950 megawatts (MW) from 2010 to 2014, Visayas Grid of 820 MW from 2011 to 2014, and Mindanao Grid, 850 MW from 2009 to 2014.
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