The Kampac Oil Group of Dubai said it plans to increase its long-term investment in the Philippines to $15 billion that will include a railway from its project site in Pangasinan to Manila.
Special advisor of the company’s Energy City project in Sual, pangasinan, Allyson Artes, said the project engineers decided to add modern and advanced railway lines that would link the site all the way to Manila.
“Kampac is not fazed even though the project will be well over $15 billion in 15 years because we believe that the Philippines has the potential to become the first Asian country to triple its growth in the next 10 to 15 years,” Artes said. He added that the railway system would have two lines, one for cargo and the other one for passengers, between the Municipality of Sual and Manila. “People who want to take the train from Pangasinan to manila could go to Sual station,” he added.
Kampac tapped Aurecon Australia PTY and Mott McDonald UK for the design and engineering, planning and management of Energy City, a proposed multi-purpose city, which will be the first of its kind in the world.
Under the plan, Kampac Energy City will have a non-commercial port, a township and the Energy City. These three integrated development shall take 5 to 15 years to complete.
Kampac Oil plans to distribute and sell oil in the Asean region, with the Philippines as its distribution hub.
Kampac said it has completed the deliberation on selecting consultants and contractors in preparation for the groundbreaking for the project by the second quarter of 2016.
“Despite the declining oil prices, the management of Kampac is bullish about the project because we think this is the time to take advantage of the cheap oil price period which will impact to lower the cost of construction and accelerate the development of the city,” said Artes.
He said Kampac was confident that both Asia and the Philippines would continue to grow, with the Philippines needing more energy to meet the challenges of the 2020’s energy security vision.
Kampac said it would hire about 10,000 to 14,000 workers, once the project is completed.
The modern railway line is expected to ease North Luzon Express Way (NLEX) traffic once it is fully operational.
/William Acuzar/
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