A CHINESE firm has withdrew from the Bangon Marawi Consortium — the panel composed of nine Filipino and Chinese companies that will undertake the rehabilitation work in the Islamic City of Marawi destroyed by the terrorist Maute group last year – because of legal impediments.
Eduardo del Rosario, Task Force Bangon Marawi head who also serves as chairman of the Housing and Urban Development Coordinating Council (HUDCC), revealed to The Manila Times on Monday that China State Construction Engineering Corp. Ltd., backed out from the project because of a restriction under the Contractors’ License Law which only allows 30 percent foreign equity participation in government projects with the remaining 70 percent to be funded by a Filipino-owned company.
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