CLARK FREEPORT, Pampanga: A Singaporean company will invest P7 billion for mixed-use development projects in a three-hectare area inside the Clark Freeport Zone.
In an agreement with the Clark Development Corporation (CDC), Capilion Corporation Pte Ltd said the mixed-use facility would be used for business process outsourcing, residential, commercial and retail companies.
The agreement was signed by CDC President Arthur Tugade and Capilion CEO and President Peter YB Tay.
“This will be the biggest contract to be signed by the new administration in terms of employment generation with a projection of 75,000 seven years,” said Tugade.
The Singapore firm presented to CDC a demand draft totaling $4.9 million or approximately P215 million representing the corporation’s advance lease, security deposit and performance security plus reservation for another 8,639 square meters adjacent to the property.
It also signed an anti-graft undertaking and pledged to exert every effort to hire indigenous people (IP) and persons with disabilities (PWDs) for this project. Sources said this clearly shows Tugade’s advocacy for a graft-free corporation and his genuine concern for the welfare of the IPs and PWDs.
Tay likewise presented a bank certificate issued by the Union Bank of the Philippines confirming the firm’s P2 billion fund for the mixed-use development project.
“Our target of breaking the 100,000 employee barrier by the year 2016 is projected to be broken by 2015 because of the entry of Capilion to Clark,” he concluded.