China Energy Engineering Group (CEEC) signed two agreements with the Philippines for the establishment of Kaliwa Dam and an industrial park in New Clark City, Pampanga on Nov 20.
The Kaliwa Dam is an important part of the Philippines' New Centennial Water Source Project, which is a 57 million cubic meter reservoir that will supply 600 million liters of water daily to the Metro Manila region, solving a basic need of local residents and improving their quality of life.
The funds will come from the preferential buyer's credit provided by the Export-Import Bank of China.
The Clark Industrial Park is located in New Clark City, Pampanga, in the northern Philippines. The park covers an area of about 500 hectares and is planned as a commercial, industrial, residential and mixed-used area for introducing high-tech and manufacturing industries.
A key project proposed by the Philippine government and one of the key sub-projects under the Philippines-China Industrial Park Development Program, the park will help make Clark a green new city in the Philippines.
The two projects are important cooperative achievements of China and the Philippines in the field of infrastructure construction within the framework of the Belt and Road Initiative, and will help the Philippines implement more livelihood projects. They fully embody the principle of adhering to cooperation and ensuring a solid foundation in Sino-Philippines relations.
The two sides will work together conscientiously to ensure the success of the projects and give the people of the two countries a sense of well-being and happiness.