MALACAÑANG announced a major Chinese construction firm has pledged an estimated US$100 million worth of additional infrastructure investments in the country.
The Presidential Communication Office (PCO) said officials of the China Communications Construction Co. Ltd (CCCC) made the commitment during their meeting with President Ferdinand R. Marcos Jr. on Monday.
The projects proposed by CCCC include the construction of the 270-km Laoag City-Rosario City Highway Project and the introduction of China’s Juncao technology to the Philippines through the construction of a technology demonstration center and an industrial park.
Juncao, which is a hybrid of the Giant Napier Grass developed by the Fujian Agriculture and Forest University, can be used for mushroom farming, or as livestock forage and poultry feed.
“The proposed Juncao technology project, once approved, will be funded through Chinese foreign aid,” the PCO said in a statement issued on Monday.
Marcos is also considering partnering with CCCC for projects on environmental sustainability.
Currently, CCCC’s existing projects in the country include the Samal Island-Davao City Connector (SIDC) Project and North & South Harbor Bridge.
It is also involved in private-led reclamation projects in Metro Manila, such as the Pasay Harbor City Reclamation Project and Manila Waterfront City Development Project.
The CCCC is a Chinese state-owned enterprise mainly engaged in transportation infrastructure projects such as roads, bridges and railways.