PREMIERE Horizon Alliance Corp. on Tuesday said it signed a memorandum of understanding with Korean firm D-Eco Energy Co. Ltd. to explore joint ventures in infrastructure, tourism and power.
Both companies are studying the possible investment and partnership in the envisioned project companies on these sectors utilizing their respective resources and expertise.
D-Eco is a company engaged in the power business and allied industries, and is forming a consortium of investors looking into investing in the same infrastructure, tourism and power sectors in the Philippines.
Premiere Horizon, meanwhile, has been undertaking two landmark projects in the infrastructure and tourism sectors.
The company said the infrastructure project will mainly be anchored on the limestone assets of its infrastructure subsidiary, Redstone Construction and Development Corp., which is set to do a listing by way of introduction within the year, subject to regulatory approval by relevant agencies.
Premiere Horizon is also developing a master-planned tourism estate in Puerto Princesa City that brings together mountainside resorts and beach retreats through its West Palawan Premiere subsidiary. The agreement was signed by Premiere Horizon Chairman, President and CEO Augusto Antonio Serafica Jr. and D-Eco Chairman Yoo In-taek, the company said.