Japan’s Marubeni to invest $17 billion in Philippine infrastructure projects

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marubeniJapanese industry and trading conglomerate Marubeni Corporation committed to invest $17.2 billion in short- to long-term Philippine infrastructure projects, namely mass transport systems, roads and highways, as well as water and power, according to Philippine Trade and Industry Secretary Ramon M. Lopez.

The news emerged after Philippine President Rodrigo Duterte returned from a three-day state visit to Tokyo. Lopez said that the investment commitment was not covered by a formal signing of a memorandum of understanding, but Marubeni officials made the commitment during a meeting with the President.

It comes on top of the $1.85 billion worth of business and investment commitments from the signing of 12 business deals, including seven letters of intent and five memoranda of understanding. which alone would create around 250,000 jobs to Filipinos.

“Of course, the Marubeni investment will not be in one lump sum, it will be invested over the years,” Lopez said.

Based on Marubeni’s commitment, the Japanese giant intends to be involved in $3.2 billion worth of projects over the short term and $14 billion more over the medium to long term.

Marubeni’s local unit in the Philippines currently has joint ventures and investments in various industries such as telecommunications, information technology, power, agriculture, transportation and construction. One of its biggest projects in the country is a power plant under the San Roque Power Corporation, a 50-50 joint venture with Kansai Power International.

Lopez also reported that Sumitomo Mitsui Banking Corporation, through its Philippine branch, will expand by providing structure financing for Public-Private Partnership projects in the Philippines.

 

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Japanese industry and trading conglomerate Marubeni Corporation committed to invest $17.2 billion in short- to long-term Philippine infrastructure projects, namely mass transport systems, roads and highways, as well as water and power, according to Philippine Trade and Industry Secretary Ramon M. Lopez. The news emerged after Philippine President Rodrigo Duterte returned from a three-day state visit to Tokyo. Lopez said that the investment commitment was not covered by a formal signing of a memorandum of understanding, but Marubeni officials made the commitment during a meeting with the President. It comes on top of the $1.85 billion worth of business and...

Reading Time: 1 minute

marubeniJapanese industry and trading conglomerate Marubeni Corporation committed to invest $17.2 billion in short- to long-term Philippine infrastructure projects, namely mass transport systems, roads and highways, as well as water and power, according to Philippine Trade and Industry Secretary Ramon M. Lopez.

The news emerged after Philippine President Rodrigo Duterte returned from a three-day state visit to Tokyo. Lopez said that the investment commitment was not covered by a formal signing of a memorandum of understanding, but Marubeni officials made the commitment during a meeting with the President.

It comes on top of the $1.85 billion worth of business and investment commitments from the signing of 12 business deals, including seven letters of intent and five memoranda of understanding. which alone would create around 250,000 jobs to Filipinos.

“Of course, the Marubeni investment will not be in one lump sum, it will be invested over the years,” Lopez said.

Based on Marubeni’s commitment, the Japanese giant intends to be involved in $3.2 billion worth of projects over the short term and $14 billion more over the medium to long term.

Marubeni’s local unit in the Philippines currently has joint ventures and investments in various industries such as telecommunications, information technology, power, agriculture, transportation and construction. One of its biggest projects in the country is a power plant under the San Roque Power Corporation, a 50-50 joint venture with Kansai Power International.

Lopez also reported that Sumitomo Mitsui Banking Corporation, through its Philippine branch, will expand by providing structure financing for Public-Private Partnership projects in the Philippines.

 

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