The Public-Private Partnership Center of the Philippines (PPP Center) has approved funding for the feasibility study of Clark Green City Food Processing Terminal Project, the Bases Conversion and Development Authority (BCDA) said in a statement Thursday.
The funding, approved by the PPP Center Project Development and Monitoring Facility (PDMF) Committee, would facilitate the hiring of consultants who will prepare the feasibility study and provide transaction support services during the approval and bidding stages.
BCDA president and CEO Arnel Paciano D. Casanova said securing the funding “is a major first step in its realization.
“For the food processing center and cold storage, it is approximately $1.7 million which includes feasibility and transaction advisory services,” he said in a text message to GMA News Online.
Last week, state-owned BCDA called for companies capable of doing feasibility studies for the Clark Green City project to submit their proposals until June 20.
The National Economic and Development Authority (NEDA) board, chaired by President Benigno Aquino III, approved the master plan for the project last May 29.
BCDA said the terms of reference for Phase One of Clark Green City, covering 1,321 hectares will be released within two months after the NEDA approval.
The first phase is estimated to cost P1.3 billion.
Casanova said it is envisioned to be a “stock exchange” of fresh agricultural produce and processed products and an intellectual hub for science and technology education and research.
Clark Green City is the first green and smart metropolis being developed in the Philippines as the ideal place for investors to set up their factories.
