By Cris Larano

MANILA--The Philippines' Board of Investments, or BOI, said Tuesday that investment pledges in November reached 28.5 billion pesos ($570 million), nearly double the PHP14.4 billion pledged a year ago.

The latest data pushed total investment pledges in the first 11 months of the year to PHP324.5 billion pesos, up 35% from a year ago. The largest share of investment pledges in the January-November period was in power generation, totalling PHP150.27 billion.

The BOI attributed the increase in investment pledges to the approval of several projects, among them the PHP30.37 billion train project of Light Rail Manila Corp., the PHP22.30 billion power project of Limay Premiere Power Corp., the PHP16.75 billion airport project of GMR Megawide Cebu Airport Corp. and the PHP16.75 billion project of Energy Development Corp. (EDC.PH).

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(END) Dow Jones Newswires

November 29, 2016 01:42 ET (06:42 GMT)

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