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Dubai-based logistics giant DP World and Emirati-state owned renewable energy company Abu Dhabi Future Energy (Masdar) are eyeing to invest over P25 billion in the Philippines
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Acting Trade Secretary Ma. Cristina Roque said DP World plans to invest P25 billion to develop ports across the country while Masdar plans to invest at least P600 million on renewable energy projects
Dubai-based global logistics giant DP World and Emirati-state owned renewable energy company Abu Dhabi Future Energy (Masdar) are eyeing to invest over P25 billion in the Philippines, according to acting Trade Secretary Ma. Cristina Roque.
The two companies reaffirmed their investment plans during Roque’s visit to the United Arab Emirates on October 3-5, the trade chief told the Philippine News Agency.
Roque said DP World plans to invest P25 billion to develop ports across the country while Masdar plans to invest at least P600 million on renewable energy projects.
In an earlier statement, the Department of Trade and Industry said Masdar is focusing on solar, wind, and geothermal power projects.
Masdar is the UAE’s clean energy champion and one of the world’s fastest-growing renewable energy companies, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges.
Last January DP World committed in a meeting with President Ferdinand Marcos, Jr. to expand and invest in the Philippines. In particular, the logistics company eyes to set up an industrial park in Clarkfield in Pampanga.
READ: DP World to expand in PH, eyes Pampanga industrial park; PH seeks ties with DP World to develop logistics sector
DP World develops industrial parks in Senegal, Egypt, India and Pakistan, and has ventures in Dubai in the United Arab Emirates. It operates over 150 ports worldwide and is also a strategic foreign shareholder of Manila South Harbor, Batangas port, and Tanza Container Terminal port operator Asian Terminals Inc.
Relatedly, DP World last February signed a partnership agreement with Masdar to explore and implement renewable energy systems across DP World’s global port operations in the Middle East and Africa.
