“It is our honor and pleasure to be the EPC contractor. Qingdao Hengshun Zhongsheng Group is genuinely an integrated industrial player. We layout, we create, we build electricity projects and business parts. We have approximately 20 years of enjoy in this field,” Lu stated.

Currently, Qingdao Hengshun Zhongsheng Group has tasks in South Africa, Zimbabwe, and Indonesia.

“This wind and sun assignment is the primary we have within the Philippines. It is our goal to make certain that this mission may be a project of true satisfactory, top design, appropriate protection, and accurate manufacturing. We hope through this task, we convey appropriate high-quality of life to the Filipino human beings as well as start the use of this undertaking as a platform to secure destiny tasks to preserve to make a contribution to the Filipino society,” he defined.

Qingdao Hengshun Zhongsheng is eyeing more tasks within the Philippines, Lu said.

The Chinese employer is bullish on the prospects within the u . S . A . Because of the enhancing courting among the Philippines and China. This cutting-edge funding is an offshoot of the successful visit of President Rodrigo Duterte to China final October.

“Geographically the Philippines may be very close to to China so for the reason that remaining 12 months, when your President [Duterte] visited China and following this yr, our Vice Premier visited the Philippines, the connection among our  international locations reinforced and has spread out a brand new chapter for Chinese enterprises to come back to the Philippines,” Lu said. The authorities will difficulty next week P30 billion really worth of retail treasury bonds (RTB) to promote economic literacy and inclusion inside the united states, the Bureau of the Treasury (BTr) said on Thursday.

“The Bureau of the Treasury (BTr) will be putting at the public sale block at the least P30 billion really worth of retail treasury bonds on Tuesday, 28 March 2017,” the BTr stated.

The RTBs could have a 3-year tenor and could be supplied to the general investing public for minimal denominations of P5,000 between March 28 and April 6, 2017, it added.


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In September remaining 12 months, the government issued 10-yr RTBs. The minimal provide of P30 billion become oversubscribed by way of 233 percentage. Total proceeds reached P100 billion, with a yield rate of three.5 percent.

This is in keeping with the SEC’s crackdown on casual lenders that pull borrowers in addition into debt due to their usurious interest prices.

Under RA 9474, lending groups are companies engaged in granting loans from their personal capital price range or from funds sourced from no longer more than 19 men and women.

“It shall now not be deemed to consist of banking institutions, investment homes, financial savings and loan associations, financing agencies, pawnshops, coverage businesses, cooperatives and different credit institutions already regulated by using regulation. The term will be synonymous with lending traders,” the law states. CHINESE-FUNDED company Xidian Holdings Philippines Corp. (Xidian Holdings), together with a Singapore-based consortium, formally broke floor on Thursday on a 232-megawatt (MW) wind and sun task in Ilocos Norte with an funding price of $430 million, the unmarried biggest renewable strength assignment within the u . S . To this point.

Xidian Holdings and the Singaporean consortium offered into Energy Logics Philippines in December 2016 and at the moment are most of the people shareholders of the organization. Energy Logics holds solar and wind provider contracts in Pasuquin and Burgos in Ilocos Norte.

The energy agency will start construction of the RE projects this March. Chinese company Qingdao Hengshun Zhongsheng Group Co. Will provide the engineering, procurement and production (EPC) services.
Qingdao Hengshun Zhongsheng Chairman Lu Min told newshounds in a translated interview that creation will take around 18 months with crowning glory visible around the middle of 2018.


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The projects will generate 2,000 jobs during constructio n and 500 jobs at some stage in operation and upkeep. “This is a combination of sun and wind assignment. Wind is 132 MW at the same time as sun is one hundred MW. The total funding is $430 million. This one is the biggest undertaking inside the Philippines that has wind and sun energy. It is also the largest agency of China inside the Philippines that mixes wind and solar energy,” Lu stated.