ASEAN KEY DESTINATIONS
Aquino brings home investment
He attended the 18th Asia-Pacific Cooperation (Apec) Economic Leaders' Meeting in Yokohama on November 12 to 14. In his arrival statement, President Aquino said that his visit to Japan yielded $2.85 billion in new investments, mostly in energy projects.
On top of the $2.85 billion in sure investments, the President announced that another $2.6 billion could be expected.
"The new investments are not lower than $2.85 billion. If we will allow it, there is another $2.6 billion in investments that are in the final stages of planning," he said.
Of the $2.85 billion, $2.6-billion investment from Marubeni Corp. would go to the expansion of the Sual, Pagbilao and Calaca power stations.
Itochu Corp. will pour in $122 million for development of sugarcane plantation in Isabela province for bio-ethanol production that will benefit 15,000 farmers.
Toshiba Corp., one of the world's biggest suppliers of consumer electronic goods, will invest $133 million for its electronics expansion.
Mr. Aquino said that possible projects that would benefit from the additional $2.6 billion are Mass Rail Transit Line 7 (to traverse Commonwealth and North Avenues in Quezon City) and Light Rail Transit 2 (to stretch from Santolan Avenue in Pasig City to Recto Avenue in Manila).
In his arrival statement, the President appealed to the media to focus on the investments he brought home from this trip, rather than on his love life.
A 50-year-old bachelor, he earlier admitted that he and his personal stylist, Liz Uy, were dating.
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