Clark Subic News Section
CLARK FREEPORT Friday, August 29, 2008 – The backhoes, tractors, earthmovers and construction crews have been set in motion and are hard at work. The first major Kuwaiti/Middle East investment in the Philippines, costing a total of $1.025 billion is underway. The new Clark Global Gateway Logistics City, otherwise known as GGLC, is an advanced project of vision, and progress, facilitating massive job-creation and securing the Clark/Subic corridor as a competitive transportation and supply center for Southeast Asia
This project is built by Kuwait and Gulf Link Investment Co. (KGL), a Middle East firm with multi-national outreach. This new mega-facility is a master-planned, fully-integrated community that will contribute enormously to the development of Clark into a globally competitive logistics hub. GGLC will be built on a 167-hectare area in Clark Freeport adjacent to the Clark DMIA Airport.
The project is so huge in scope that it will flourish in two distinct steps over a total of 7 years. The first phase with an expenditure allocation of $25 million laying the roads, fencing, landscaping, sidewalks, utilities, lights and other ancillary infrastructure will take up to 24 months to finish. The second and most expensive phase by far, encompassing the actual buildings and other whole-scope project structures has an allocated budget of $1 billion and an estimated timeframe of 5 years.
Ground breaking for this enthusiastic and far-sighted undertaking brought together Philippine president Gloria Arroyo, CIAC president Victor Jose Lucianoas, officials from the contractor Peregrine Development and prime investor KGL as they witness the laying of a special time capsule commemorating the event.
As a precursor business building development strategy, a new processing system for cargos brought-in and sent-out of Clark and Subic, synchronizing customs, quarantine, and immigration methods. As a result of this collaborative agreement between Subic-Clark Alliance for Development Council, the Clark Development Corporation and Subic Bay Metropolitan Authority and the Philippines Bureau of Customs, raw materials and goods from other countries may now be shipped to either Subic or Clark in real-time eliminating the need for importers to pay cash up front.
For the investor, importer/exporter, logistics support companies and any other business minded individuals wanting to take advantage of this opportunity, the time is now to position your company to be part of this massive undertaking and logical growth of the Asia Pacific region right here in out beloved Philippines.