Construction companies are gearing up to begin construction on a $7.4 billion artificial island near Thailand’s border with China.
A joint venture between the Philippines, China and the US, called Yates Construction Group, said on Tuesday it had started construction of the island, a 60-meter (200-foot) long structure on the northern shore of the Sakhalin Sea.
Construction will be completed by 2019, and Yates hopes to eventually construct the floating, underwater artificial island, which is estimated to cost about $7 billion.
The island will be able to house 1,000 people.
Construction is slated to begin in 2019, according to a statement.
The Philippines has been a close US ally and China a close Chinese ally since the Philippines gained its independence from the Philippines in 1946.