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Thursday, December 22, 2005
P1.885 billion investments pour in for Clark
By Dante M. Fabian
CLARK ECOZONE -- Clark Development Coporation (CDC) president and chief executive officer Antonio R. Ng finalized agreements with two groups who will soon begin investing about P1.885 billion into the Clark Special Economic Zone (CSEZ).
The investments involve a commercial airline pilots' training center and a third casino in the economic zone.
Ng said during the media Christmas party held at the Clark Firing Ranges that the investments are results of earnest negotiations with investors during the year, a period which he described as "challenging and energizing".
Ng announced that the CDC and the International Aviation Group (IVG) signed a memorandum of agreement (MOA) for the establishment and operation of a modern flight training facility with a full flight simulator that will be used in training commercial airline pilots for Airbus commercial passenger planes.
He said an agreement was also signed by officials of CDC and Paradise Island Group Wednesday for the operation of another casino, in addition to the Mimosa Regency Casino and the Fontana Casino.
According to Ng, the IVG officials committed to lay the groundwork by February next year for the pilots' training center, equipped with a full flight simulator and single engine planes.
He added that the IVG facility is expected to be fully operational by May or June next year, while Paradise Island Group officials will start its groundwork on the construction of the casino building by January.
Ng also announced that two major tourism development projects are nearing completion in Clark. He said that next year, two hotels will be operational: the Pink Hotel, to be renamed Raffles Hotel and opened in March with very reasonable room rates of P1,500 a day. The Fort Stotsenberg Hotel, meanwhile, is slated to open by June with 250 rooms.
He said CDC is now busy with the privatization of the 215-hectare Mimosa Golf and Country Club, presently operated by the CDC after taking over from Jose Antonio Gonzales' Mimosa Leisure Resort Corporation, the original developer.
According to Ng, the privatization of Mimosa Golf is expected to be concluded by the first half of 2006. He disclosed that this is proceeding smoothly with 10 interested bidders, both local and foreign.
He said a new group of investors are now in the midst of renegotiating with CDC the development and operation of the Hacienda Golf and Country Club, initially with a 36-hole golf course.
Under Ng's leadership, the CDC had been able to revive activity at the multi-billion Expo Pilipino, which went through its soft opening as the Clark Expo last December 8.
Since it reopened, Clark Expo has been swarmed by thousands of people as it served as site for activities like the Mutya Ning Angeles and Pinoy Big Brother Final Eviction, a two-day dog show, and Clark National Duathlon over the past weekend.
Ng said he and other CDC officials are now working on attracting more investors into the CSEZ and the Diosdado Macapagal International Airport.
He said the CDC and officers of the Kuwaiti Group are now conducting negotiations for the development of the 300-hectare Clark Techopark into a park that will accommodate more employees.
Ruperto Cruz, Pinoy Gumising Ka Movement (PGKM) chairman, had hailed Ng for his excellent efforts in increasing economic activity in the Clark Ecozone during the entire nine months of his being at the top of the CDC leadership. (Sun.Star Pampanga/Sunnex)
(December 22, 2005 issue)
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