MARIVELES, Bataan – The Authority of the Freeport Area of Bataan (AFAB) and Provincial Government of Bataan forged a partnership deal with China’s renowned giant engineering project contractor and hydropower, wind power and water resources developer, Sinohydro Co.Ltd. and POWERCHINA Chengdu Engineering Co. Ltd.
AFAB Chairman and Administrator Emmanuel D. Pineda, Bataan Governor Albert Raymond S. Garcia, Sinohydro Deputy General Manager Xiang Chaoqun and POWERCHINA Chengdu President Huang He headed the signing of the memorandum of understanding (MoU).
Under the MoU, the AFAB and the Provincial Government of Bataan will work with Sinohydro and POWERCHINA toward the financing, engineering, procurement and actual construction of projects that are vital and significant to economic and political development within the Freeport Area of Bataan (FAB) and Regions III, IV and National Capital Region.
All the parties also vow to establish strong and prospective business relations and cooperate in projects related to Manila Bay Sea Cross Bridge, container ports, industrial estates, renewable energy, tourism and commercial developments, highways and railways and utilities.
“The MoU with Sinohydro and POWERCHINA is very valuable to us as this supports the initiative of the Provincial Government of Bataan to bring more development in the province and provide better lives for our people. We appreciate the confidence of SinoHydro and POWERCHINA in Bataan and in the FAB,” Gov. Garcia stressed.
“In the future, we hope to sign an agreement and contract with Sinohydro and POWERCHINA for more projects in Bataan that will surely provide legitimate jobs,” the governor added.
“The signed MoU is another significant milestone for the AFAB and the Provincial Government of Bataan. Together with Sinohydro and POWERCHINA, we hope to build projects that would benefit locators in the FAB and people in Bataan, including hydropower plants and highways and bridges,” AFAB Chairman and Administrator Pineda said.
POWERCHINA serves its foreign clients through its industrial chains with a number of world famous brands including Sinohydro, HydroChina, SEPCO and SEPCOIII. This made POWERCHINA an international comprehensive construction conglomerate and a world class platform offering technical solution. It also has more than 3,000 engineering projects in 94 countries and regions worldwide. POWERCHINA is also engaged in power engineering construction across the globe.
The FAB, on the other hand, is one of the manufacturing hubs in the Philippines. Its vision is to be the Freeport of choice in the country by 2020, becoming a center of trade, innovation and sustainable development in Asia and promoting work-life balance and global competitiveness.