Dubai-based oil firm to build “Energy City” in the Philippines

Project completion slated in five years’ time.

International oil and gas company Kampac International plc based in the United Arab Emirates is in talks to develop a US$5 billion “Energy City” project in the Philippines. Media sources said the plant will be located somewhere in the Southern Luzon region to the south of Metro Manila.

Kampac chairman Charles Ampofo said the project will include a liquefied natural gas plant and a petrochemical facility. Upon completion, the project could employ up to 10,000 persons.

Ampofo said Kampac decided to invest in the Philippines due to the country’s good governance that promotes investor confidence. He also noted the geographic location of the Philippines was a major advantage for Kampac.

Kampac, with an annual turnover of over US$3 billion, was established in 1988 with its main activities in exploration and production, oil trading, oil infrastructure development, environmental and oil services.