Aquino bags $3.655-B Japanese investments

President Benigno s. Aquino III secured today a $3.655 billion worth of Japanese investments
in a series of meetings with top Japanese investors in the Philippines.

The President met with top officials of Marubeni Corp., Itochu Corp. and Toshiba Corp. at the
Okura Hotel in Tokyo before proceeding to the APEC meeting here on Friday morning.

The President met with Marubeni president and CEO Truo Asada, Toshiba president and
CEO Norio Sasaki, Itochu deputy COO Yoshihisa Nishimura and JGC president Masahiko
Yaegashi. JGC is the design and technology arm of Itochu Corp.

The President got the biggest chunk of the pie from Marubeni which will pour in $3.4 billion
for the expansion of the Sual and Pagbilao power stations; MRT Line 7; LRT 2 East and West
extension project and digital TV system and equipment.

Toshiba, on the other hand, will invest $133 million for its electronics products expansion in
the economic zone.

Itochu will invest $122 million for the development of 11,000 hectares of sugarcane plantation
in Isabela for bio-ethanol production which is expected to generate 18,000 jobs in two years
and benefit some 15,000 farmers. (PCOO)

Submit a Comment