MANILA, Philippines — The National Economic and Development Authority (NEDA) has approved the master plan for the development of 36,000 hectares of idle land at the Clark Freeport and Special Economic Zone into a “green” city.
In a statement released by the Bases Conversion and Development Authority (BCDA) on Tuesday, August 6, BCDA President and CEO Arnel Paciano Casanova said the NEDA Infrastructure Committee (InfraCom) has committed to endorsing the master plan for the Clark Green City to President Benigno Aquino III for final approval.
Casanova said BCDA can start developing the property by next year after President Aquino approves the project.
“We are very pleased that NEDA Infracom has approved our plans for Clark Green City, and hope that President Aquino will approve the project. This [project] promises to be one of the most important destinations not just in Central Luzon, but the country as a whole, for local and international residents, locators and investors,” Casanova added.
Clark Green City – half the size of Metro Manila – will feature sustainable high-rise buildings, its own water recycling facility, and a water catchment facility, among others.
Read: Clark Green City masterplan out by Q1 2013
The initial P59-billion funding for the project over the next 5 years will come from the government, and the rest will come from the private sector. The project will be bid out under the Public-Private-Partnership scheme.
Casanova said the proposed Clark Green City will help decongest Metro Manila. Once fully developed, the project is also expected to generate P1.57 trillion worth of income per year and create a total of 925,000 jobs. – Rappler.com
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