APECO seeking investors for P4.7 billion seaport

MANILA, Philippines — The Aurora Pacific Economic Zone and Freeport Authority (APECO) is looking for firms interested in the development of a P4.7 billion seaport in the ecozone.

“We are looking for investors to develop a world-class seaport in our ecozone,” APECO president and CEO Gil Taway IV said.

He said APECO wants to partner with a firm in building a new and critical hub as the ecozone is being positioned as a transshipment gateway.

A feasibility study conducted by the Export-Import Bank of Korea estimated the cost of building a seaport in Casiguran at around $56 million in 2011.

Taway said that adjusted for inflation, the construction cost would be around $83 million or  P4.7 billion.

APECO is also looking for partners for its plan to develop a commercial airport in Casiguran to serve as a vital link for cargo and passenger movement. Last June, APECO said it acquired an additional 12 hectares of land for the planned airport.

At present, APECO has a 1.3-kilometer airstrip, with flights being cleared under a one-time permit.

Taway said the APECO expects to secure a permit to operate with the Civil Aviation Authority of the Philippines for full commercial operations before the end of the year.

In the long term, Taway said the plan is to expand and become an international airport.

“We need the expertise of the private sector, both foreign and domestic, to build the APECO Airport,” he said.

APECO aims to attract investors, generate jobs and drive regional development by serving as a gateway to the Pacific.

Taway said they want to attract investments in manufacturing, tourism, clean energy, as well as sustainable industries.