Cosco eyes Subic, Sangley as possible invest sites
By MA. ELISA P. OSORIO
The Philippine Star
Chinese shipping giant China Ocean Shipping Co. is seriously eyeing the 93-kilometer strip between Subic and Clark as a possible location of their multi-billion dollar investment in the country.
“Cosco officials are here on a two-day visit to look at Subic and Sangley Point,” Francis Chua, special Philippine envoy on China trade and investments, said in an interview Tuesday.
According to Chua, Cosco vice-president LiJian Xiong and executive vice-president Li Jianhong went to Sangley Point in Cavite Tuesday and is scheduled to visit Subic Wednesday.
“They want to evaluate the two areas. They want to see if the areas can accommodate the facilities they want to build,” Chua said.
Chua said Cosco’s initial plans include the development of a land where they would put up a “marine school to train maritime sailors. There will be a repairing ships and building ships.”
“They will be using the Philippines as a hub for shipment to Europe and America, so all cargo from Asia will come to the Philippines, using the Philippines as a staging point to go to US, North America, Europe and vice versa,” Chua said.
The move of the Chinese investor is contrary to earlier statements made by Trade Secretary Peter Favila who claimed Cosco has finally decided to pluck in their $3-billion to $5-billion investment in the naval base in Cavite.
“The Chinese liked Sangley Point. They considered other locations but they chose to develop Sangley into a fully operational commercial port,” Favila said last week.
However, Chua said the Chinese are concerned if there is enough space for them in the Sangley Point naval base. “They need a lot of space. They are not certain if the Cavite property will be enough.”
According to Chua, the Philippine Reclamation Authority has told him that Philippine Airlines (PAL) is moving in the naval base to extend the runway of the international airport in order to accommodate the flag carrier’s 747 planes.
Currently, the runway is two kilometers. Chua said the 747 requires seven kilometers so the new runway would eat up five kilometers.
In spite of the confusion as to where the investment is going to be located, Chua said he is confident that the Chinese will not move their business to another country like Vietnam.
“We will not allow that to happen. One thing is sure, Cosco will locate in the Philippines,” Chua stressed.
Founded in 1961 as the pioneer international shipping carrier in China, Cosco has grown into a $17-billion global company. It owns and operates 600 various types of ships operating in 1,300 ports in more than 160 countries and regions worldwide.
The Philippine Star
Chinese shipping giant China Ocean Shipping Co. is seriously eyeing the 93-kilometer strip between Subic and Clark as a possible location of their multi-billion dollar investment in the country.
“Cosco officials are here on a two-day visit to look at Subic and Sangley Point,” Francis Chua, special Philippine envoy on China trade and investments, said in an interview Tuesday.
According to Chua, Cosco vice-president LiJian Xiong and executive vice-president Li Jianhong went to Sangley Point in Cavite Tuesday and is scheduled to visit Subic Wednesday.
“They want to evaluate the two areas. They want to see if the areas can accommodate the facilities they want to build,” Chua said.
Chua said Cosco’s initial plans include the development of a land where they would put up a “marine school to train maritime sailors. There will be a repairing ships and building ships.”
“They will be using the Philippines as a hub for shipment to Europe and America, so all cargo from Asia will come to the Philippines, using the Philippines as a staging point to go to US, North America, Europe and vice versa,” Chua said.
The move of the Chinese investor is contrary to earlier statements made by Trade Secretary Peter Favila who claimed Cosco has finally decided to pluck in their $3-billion to $5-billion investment in the naval base in Cavite.
“The Chinese liked Sangley Point. They considered other locations but they chose to develop Sangley into a fully operational commercial port,” Favila said last week.
However, Chua said the Chinese are concerned if there is enough space for them in the Sangley Point naval base. “They need a lot of space. They are not certain if the Cavite property will be enough.”
According to Chua, the Philippine Reclamation Authority has told him that Philippine Airlines (PAL) is moving in the naval base to extend the runway of the international airport in order to accommodate the flag carrier’s 747 planes.
Currently, the runway is two kilometers. Chua said the 747 requires seven kilometers so the new runway would eat up five kilometers.
In spite of the confusion as to where the investment is going to be located, Chua said he is confident that the Chinese will not move their business to another country like Vietnam.
“We will not allow that to happen. One thing is sure, Cosco will locate in the Philippines,” Chua stressed.
Founded in 1961 as the pioneer international shipping carrier in China, Cosco has grown into a $17-billion global company. It owns and operates 600 various types of ships operating in 1,300 ports in more than 160 countries and regions worldwide.
Labels: cosco, marine school, shipping, subic clark expressway
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