Philippines Sees $600 Million Investments from Lufthansa, FedEx

Lufthansa Technik Philipines and FedEx Corp. are investing more than $600 million for separate facilities in a former US air base in the Philippines as the Southeast Asian nation moves to boost foreign capital, according to a senior government official.

Lufthansa Technik Philippines, a joint venture of Philippine firm MacroAsia Corp. and Lufthansa Technik, is planning to pour in $400 million to build a maintenance, repair and overhaul facility in Clark International Airport in Pampanga province, Joshua Bingcang, president and chief executive officer of the Bases Conversion and Development Authority, said in a briefing Thursday.