Chinese firms keen on investment in Subic Bay shipyard, Clark air base

Chinese Firms Keen On Investment In Subic Bay Shipyard, Clark Air Base
View over Subic Bay with Hanjin’s shipyard in the background © Arno Maierbrugger

Chinese businesses are seeking to take over a Subic Bay shipyard and could soon also control nearly 5.2 square kilometers of what was once America’s largest air base in Clark and transform it into an industrial park, according to CNN Philippines.

Philippine Trade Secretary Ramon Lopez said the government could not block Chinese offers to buy Subic Bay shipbuilder Hanjin Philippines, which has defaulted on $1.3 billion in loans, according to an April 25 Reuters report.

Meanwhile, a Philippine government spokesman said that China will build an industrial park on the former Clark Air Base, north of Manila, Asia Times wrote in an April 27 report.

The industrial park project was first announced in a joint statement by Philippines President Rodrigo Duterte and Chinese President Xi Jinping last November.

Subic Bay, once known as Naval Base Subic Bay, was home to thousands of US sailors and their families before the Navy left in 1992. Today, it is still a regular port call for US warships and Marines who practice beach landings nearby in Zambales province.

Subic is considered an important asset because of the bay’s shelter, deep water and access to the South China Sea.

Clark, home to thousands of US airmen and their families before the 1991 eruption of Mount Pinatubo badly damaged the facility, is still a hub for US Air Force and Navy planes operating in the Philippines.

Interest from two unidentified Chinese firms, which was confirmed to Reuters by a Philippine trade official, comes as China rapidly expands and fortifies its presence in the South China Sea, a trade route for $3 trillion of commerce each year, amid global concern that Beijing is seeking to establish a new dominance in Asia, politically, economically and through its military.

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View over Subic Bay with Hanjin's shipyard in the background © Arno Maierbrugger Chinese businesses are seeking to take over a Subic Bay shipyard and could soon also control nearly 5.2 square kilometers of what was once America’s largest air base in Clark and transform it into an industrial park, according to CNN Philippines. Philippine Trade Secretary Ramon Lopez said the government could not block Chinese offers to buy Subic Bay shipbuilder Hanjin Philippines, which has defaulted on $1.3 billion in loans, according to an April 25 Reuters report. Meanwhile, a Philippine government spokesman said that China will build an...

Chinese Firms Keen On Investment In Subic Bay Shipyard, Clark Air Base
View over Subic Bay with Hanjin’s shipyard in the background © Arno Maierbrugger

Chinese businesses are seeking to take over a Subic Bay shipyard and could soon also control nearly 5.2 square kilometers of what was once America’s largest air base in Clark and transform it into an industrial park, according to CNN Philippines.

Philippine Trade Secretary Ramon Lopez said the government could not block Chinese offers to buy Subic Bay shipbuilder Hanjin Philippines, which has defaulted on $1.3 billion in loans, according to an April 25 Reuters report.

Meanwhile, a Philippine government spokesman said that China will build an industrial park on the former Clark Air Base, north of Manila, Asia Times wrote in an April 27 report.

The industrial park project was first announced in a joint statement by Philippines President Rodrigo Duterte and Chinese President Xi Jinping last November.

Subic Bay, once known as Naval Base Subic Bay, was home to thousands of US sailors and their families before the Navy left in 1992. Today, it is still a regular port call for US warships and Marines who practice beach landings nearby in Zambales province.

Subic is considered an important asset because of the bay’s shelter, deep water and access to the South China Sea.

Clark, home to thousands of US airmen and their families before the 1991 eruption of Mount Pinatubo badly damaged the facility, is still a hub for US Air Force and Navy planes operating in the Philippines.

Interest from two unidentified Chinese firms, which was confirmed to Reuters by a Philippine trade official, comes as China rapidly expands and fortifies its presence in the South China Sea, a trade route for $3 trillion of commerce each year, amid global concern that Beijing is seeking to establish a new dominance in Asia, politically, economically and through its military.

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