Reports: COSCO to build hub in Philippines
Several newspapers in the Far East are reporting that China Ocean
Shipping Co. will develop a $3 billion shipping hub in Sangley Point, Cavite in the Philippines.
They report the investment was discussed by Philippines President Gloria Macapagal-Arroyo and COSCO president and chief executive officer Wei Jia Fu during a meeting in Malacanang.
Sangley Point is being developed as an international transshipment point through the creation of a special economic zone.
Reports: COSCO to build hub in Philippines
