The Bases Conversion and Development Authority (BCDA) on Wednesday said it has formalized a partnership with the National Development Company (NDC) to tap the latter’s expertise in financing and implementing high-impact projects in New Clark City.
BCDA president and chief executive officer Joshua Bingcang and NDC general manager Antonilo DC Mauricio signed a memorandum of understanding (MOU) creating a collaborative framework for the urban development of New Clark City last November 4.
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“We thank the NDC for readily offering to share with BCDA its knowledge and expertise in financing and implementing projects, particularly in urban expansion, industrial development, and energy, among others,” Bingcang said in a statement.
“With more than a hundred years of experience and track record, NDC will surely become instrumental in the transformation of New Clark City into the country’s first smart, sustainable, and future-ready metropolis,” he added.
For his part, BCDA chairperson Hilario Paredes said ““With our shared vision to spur national development, we believe that this new partnership will enable us to implement transformative projects that will help New Clark City achieve its fullest potential.”
Under the MOU, both parties will discuss and explore potential collaboration opportunities, leading to the preparation of a feasibility study report that may include technical and commercial assessments of developments within the BCDA’s properties.
The BCDA said that the NDC has expressed interest in the 9,450-hectare greenfield development inside the Clark Special Economic Zone, particularly in the development of a science and technology park.