Cebu News

Tuburan looking for investors for infra projects

Mitchelle L. Palaubsanon - The Freeman

CEBU, Philippines — Tuburan Mayor Aljun Diamante is opening the door to parties interested in investing in his town's infrastructure projects worth P21.5 billion.

These projects include the 100-hectare reclamation project for the town's international port amounting to P20 billion, the 2.8-kilometer Adela River that will be turned into a lagoon amounting to P50 million, and a high-end hotel resort at the Molobolo Cold Springs.

Diamante said that these projects, which are part of the town's Comprehensive Land Use Program, will elevate the town from being a second-class municipality into a bustling city.

Diamante said some foreign investors are currently showing interest in pursuing the projects but nothing is final yet.

"Naa na nay mga foreign investors nga gusto mo-develop pero wala pa g’yud magkasinabot mao na nga nangita pa ko og investors to finance these projects," the mayor said.

He said he wants these projects to be under PPP or Private-Public-Partnership transaction.

Diamante is optimistic that all these infrastructure projects will be realized and will alleviate the economic status of his constituents as these will create more jobs and generate tourism.

To date, he said that Tuburan is already qualified to be a first-class municipality in terms of land area, population and income, although there has been no official declaration yet.

"Pag-mayor nako kay P3 million pa to ang annual income karon more than P30 million na ang annual income sa Tuburan," said Diamante, who is now serving his last term. (FREEMAN)


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