GUANXI, China and the Philippines have signed new projects to expand economic and trade cooperation, enhance connectivity and match competitive industries. “The projects signed includes port cooperation, hydropower engineering contracting, Nanning-Manila direct tourist charter flights as well as tourism strategic cooperation,” Peng Qinghua, Secretary of Communist Party of China said during the China-Philippines Business Matching Seminar for Entrepreneurs on Wednesday. One of the projects signed involved the Philippine Kibungan Badeo 500-megawatt Pumped Storage Hydropower Project in Kibungan City, Benguet. The total investment by China Energy Engineering Group Guangxi Hydroelectric Construction Bureau Co. Ltd. is $550 million. Peng hopes that Guangxi and the Philippines seize the chance and draw on each other’s strengths to achieve mutual benefit and deliver a brighter future for both sides.

Source: Manila Times May 24, 2017 16:07 UTC