The full buildout of the proposed AI-anchored Pax Silica initiative in New Clark City (NCC) is expected to be achieved within a 30-year period and exports of USD200 billion.
Engr. Joshua M. Bingcang, president and CEO, Bases Conversion and Development Authority
Engr. Joshua M. Bingcang, president and CEO of the Bases Conversion and Development Authority (BCDA) during the Pax Silica briefing for business leaders and industry stakeholders in New Clark City (NCC), Tarlac said the 1,620-hectare AI Innovation Hub would be implemented in three phases. BCDA is the government agency in charge of implementing the NCC development.
According to Bingcang, the development to be implemented in three phases has the potential to generate USD200 billion in exports from estimated investments of between USD40 billion and USD70 billion in total investments upon full buildout.
During the first phase alone, an initial USD10 billion in new investments are expected to be poured into the development by 10 to 20 companies over the first five years. These investments will go into infrastructure, including power and water utilities.
Phase 1, he said, will cover the development of 500 hectares within the Pax Silica site.
The Philippines is expected to sign the Pax Silica Framework before the end of this year. This will be followed by commercial contracts signing between the BCDA and interested private investors.
“We may sign something this year,” said Bingcang without elaborating. Project construction could begin in 2028.
Other projected economic benefits include PHP60 billion in lease income over 25 years, PHP68 billion to PHP75 billion in annual tax revenues, 130,000 to 190,000 direct jobs, and 500,000 to 800,000 indirect and induced jobs.
