March 06, 2017

Japan’s Sogo Shosha to invest P195B in Phl

Japan’s seven major trading houses, collectively known as the Sogo Shosha group, have expressed interest in investing P198.5 billion in various sectors seen essential in the economic development of the Philippines.
According to the Philippine Star, The Department of Trade and Industry (DTI) said the Sogo Shosha group would  "further venture and participate in trade partnerships with the Philippines, as relayed in a recent meeting between Trade Secretary Ramon Lopez and the group’s senior executives in Japan."
The Sogo Shosha group consists of Mitsubishi Motors, Mitsui & Co. Ltd.,  Sumitomo Corp., Itochu Corp., Marubeni Corp., Toyota Tsusho and Sojitz Corp.
The group of companies have expressed interest in energy, railway and transportation, water management, and security.
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Of the projects disclosed, the Sogo Shosha group would like to invest in a coal power plant, Philippine Coast Guard multi-role response vessels, capacity enhancements of mass transportation namely Light Rail Transit (LRT) Line 1 South extension, LRT Line 2 East extension, North-South Commuter Railway Project, and possible development of transit systems in Davao, Cebu and Clark.
The DTI said the investments are expected to come in until 2018.