CDC expects P10.7-B new investments

CLARK FREEPORT, Pampanga – The state-owned Clark Development Corp. (CDC) has reported new and “revived” investments worth about $238.9 million or about P10.7 billion in the next three years in this freeport.

At the same time, CDC bared employment projections of 100,000 by 2016.

CDC vice president for business development and enhancement Mariz Mandocdoc said in a media briefing that the total, $238.9 million, $60 million covered new “direct” investments while $177.7 million were revived investments or old dormant investments that have been reactivated.

She identified the new direct investments included Pishon Clark Philippines, Inc. with a $4-million investment commitment, Preferred and Proven Therapies, Inc. with $8 million, Sambon P&C Phils. Corp. with $3 million, and Hubble Multisport, Inc. with $23 million, all for a total of $15 million.

The other new direct investments also included expansions of existing facilities, including those of MSK Group with $8.8- million committed investments, Aderans with $1.9 million, SMK Electronics with $20 million, Our Lady of Mt. Carmel Medical Center, Inc. with $1.4 million and Fontana Convention with $3.7 million.

Mandocdoc said the others include existing investments whose contracts have been renewed and whose committed investments totalled $9.05 million.