P800B investments seek application for green lane processing

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Fourteen projects with an investment cost of P800 billion, including the P600-billion solar power venture  of Aboitiz Power Corp. in Isabela, are expected to seek facilitation under the government’s green lane processing.

These are  on top of the 16 projects worth P384 billion approved  under the system so far this year.

RODOLFO

Ceferino Rodolfo, managing head of the Board of Investments (BOI), said these strategic investments are expected to form part of a healthy pipeline of actual investments into the country.

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According to Rodolfo, big-ticket projects classified as strategic can avail of the services of the green lane which will fasttrack the release of permits.

“We are  confident when we talk   about a strong pipeline (of investments) because we know where they will come from,” said Rodolfo, adding these projects will eventually seek incentives under BOI or other investment promotion agencies.

“It is important for strategic investments to register in the green lane so (the proponents)   can establish the company and run the licenses,” Rodolfo added.

He said the 16 projects that have been approved under the green lane are mostly in renewable energy (RE) telco towers and steel manufacturing.

Lubin de Vera Jr., chief of the One Stop Action Center for Strategic Investments, said  these are expected to generate 31,000 jobs.

De Vera said  11 are RE – 10 solar and one wind. The biggest  project approved so far  is the P66-billion investment of Sun Asia

He said three of the 16 have registered with BOI but  he did not identify them.

The latest project awarded a Green Lane Certificate of Endorsement is the Kalayaan 2 wind power project of Laguna Wind Energy Corp.   in Paete and Kalayaan, Laguna.

The project, with an investment cost of P10.85 billion, is set to start its commercial operations by 2026 and is expected to generate at least 30 direct and 500 indirect employment for Filipinos.

Bobby Fondevilla, executive director of the BOI, Investment Assistance Center , said under the green lane, the period of  processing of permits should not go beyond  what is provided under the agency’s Citizen’s Charter  as long as the proponent submits the complete documentary requirements.

The green lane system as contained in Executive Order  18 aims to expedite, streamline and automate processes on the application of permits and licenses of strategic investments.

Some of the companies given green lane certificates are SunAsia Energy Inc. for a 1300 MW floating solar project in Laguna de Bay,

P66 billion;  Phil-tower Consortium Inc., 7,907 built-to-suit common towers, P52.158 billion;  Narra Technology Development Park for EDC-Project Charlie Hyperscale Data

Center in New Clark City, Tarlac, P50 billion; EdgePoint Towers Inc. under common passive telecommunications tower infrastructure, P50 billion and;  SteelAsia Lemery Works Inc. for its 500,000 metric ton section mill project in Lemery, Batangas, P19.3 billion. Irma Isip

 

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