Wednesday, 10 June 2009

Work to start on $1-billion logistics hub in Philippines' Clark Freeport

RMG
BusinessWorld
http://www.bworldonline.com/BW061009/content.php?id=053

CLARK FREEPORT — Work will soon start to develop a 167-hectare prime property adjacent to the Diosdado Macapagal International Airport into the $1-billion Global Gateway Logistics City (GGLC), Clark International Airport Corp. (CIAC) President and CEO Victor Jose I. Luciano said in a speech here yesterday.

The project, launched on Sept. 1 last year, will be developed by Kuwait-based KGL Investment Company.

Mr. Luciano was speaking in ceremonies at the CIAC Aerodrome Canteen after distributing a total of P1.5 million in financial assistance to eight informal settlers who would be displaced by the project. CIAC estimates it will have to pay a total of P23.5 million to 107 such settlers.

"The Global Gateway Logistics City will soon rise to create employment for your children as well as to catapult the development of the Diosdado Macapagal International Airport," he told the audience, adding the project will generate 70,000 jobs in the next five to seven years.

The project will include warehousing, distribution, multi-nodal logistics, light manufacturing and other facilities to support activities in the 2,367-ha Clark Civil Aviation Complex.

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