BCDA invests P33.8-B in Central Luzon; Investments seen to further grow in Central Region with Clark Green City

The state-owned Bases Conversion and Development Authority (BCDA) said it has invested P33.8 billion in Central Luzon in line with its mandate to convert the former US military facility  Clark Air Base into  productive-use and at the same time create opportunities for investment and employment in Central Luzon.

BCDA President and CEO Arnel Paciano D. Casanova said BCDA has dramatically improved the investment landscape in Central Luzon by providing  the much needed funds for the development  of the  Clark Freeport Zone and its immediate environs.

Of the P33.8 billion infused by the BCDA in Central Luzon, a huge chunk amounting to Php30.68 billion was invested in the construction of the 94-kilometer Subic-Clark-Tarlac Expressway (SCTEX)—the most modern tollway connecting the Subic Bay Freeport Zone with its modern seaport and the Clark Freeport Zone where the Clark International Airport is located.

BCDA infused  Php1.28 billion in the Clark Development Corporation (CDC) and Php 1.53 billion in CDC’s 230kv Transmission Project. Another Php 1.25 billion was invested in the Clark International Airport Corporation (CIAC).  Some Php342.2 million funded the construction of  roads in Bataan, Pampanga and Tarlac.

Casanova said BCDA’s newest project in Central Luzon is the creation of a new urban area half the size of Metro Manila. He said BCDA is in the final stages of master planning the 35,000-hectare Clark Green City located at the Clark Special Economic Zone.  It is expected to be launched next year.

“Clark Green City will be environmentally sustainable, socially inclusive, economically competitive, culturally relevant, and technologically integrated,” adding that “Clark Green City will generate billions in investments and generate thousands of jobs.”   This will also provide the catalyst for the economic development of surrounding local government units.

Casanova likened Clark Green City to a much more modern Bonifacio Global City that is 100 times bigger.

“BCDA, together with its subsidiaries, CDC and CIAC, is committed to actively pursue the development of Central Luzon.  The development of Central Luzon is not merely a local or regional concern, it is a matter of national interest,” Casanova said.