^

Foreign firms interested in P125-B Quezon ecozone

(The Philippine Star) - March 5, 2017 - 12:00am

MANILA, Philippines -  Achievements Realty Corp. of businessman Philip Cea is looking to partner with three foreign conglomerates for the development of its P125-billion Greater Lucena Integrated Economic Zone in Mauban, Quezon.

Cea said his group has received strong interest for financing and partnership from three companies, namely Alloy Mtd. of Malaysia, POSCO of Korea and China Communications Construction Co. (CCC) Ltd.

“These three companies are all ready to invest. I talked to them and they have signified to invest at no cost to the government. They said I should just worry about the securing the signature of the President and they said they’ll take care of the rest,” he said.

“These three companies are all very big multi-purpose companies. I will either work with the three of them or I’ll choose one of them. I have not chosen yet as the most important thing at present is the signature of the President,” he added.

Philippine Economic Zone Authority (PEZA) director general Charito Plaza said the 1,536-hectare development has been approved recently by PEZA and is now at the Office of the President awaiting presidential proclamation.

Cea said the entire property is owned by Achievements Realty since 1969 and is currently being utilized for agricultural purposes.

According to Cea, P75 billion will be spent for the development’s industrial and commercial components, while P25 billion each will be invested for the construction of an international airport and an international seaport.

Aside from the approval of President Duterte for the entire development, the airport component will likewise need approval from the Department of Transportation.

“Transportation Secretary Arthur Tugade told me that if you will not be using any government money, we will approve it immediately,” Cea said.

Achievements Realty is likewise donating 200 hectares of land in the proposed economic zone to the government for the development of a National Government Center where Malacañang, as well as the executive, legislative and judiciary main offices, for possible relocation, Plaza added.

ECOZONE
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with