European firm investing $50M to set up hangar in Clark airport, says BCDA

The Bases Conversion and Development Authority (BCDA) said Tuesday a European company is pouring in about $50 million to set up a maintenance, repair, and overhaul hangar at the Clark International Airport.

In a chance interview, BCDA president and CEO Joshua Bingcang told reporters that the European company is planning to “take 40 hectares” to “build their facility, their hangar.”

“We’ve [already] discussed the terms of partnership and financing,” Bingcang said.

The BCDA chief said the European firm is taking in a local partner to set up shop in the country.

The facility, on the hand, will be built under a 25-year lease with the BCDA.

The European firm, which Bingcang declined to disclose yet, will be among major global firms that already set up hubs at the Clark International Airport.

Global logistics firm UPS, last month opened its $80-million new hub at the Clark airport.

FedEx, in May, broke ground on the expansion of its Clark gateway facility. —NB, GMA News