CEBU -- The Provincial Board (PB) approved a resolution authorizing Cordova to undertake a P138-billion reclamation project through a public-private partnership arrangement.
The resolution was authored by former Cordova mayor Arleigh Sitoy and seconded by PB Member Celestino “Tining” Martinez III.
Arleigh said the project will be the biggest in the country, or five times bigger than the South Road Properties in Cebu City. It will connect Shell Island in the western part of the town to the lighthouse all the way to Lava Island in the southern part of the town.
Cordova Mayor Adelino Sitoy, Arleigh’s father, told legislators during the session that SM Prime Holdings Inc. (SMPHI) will be the private proponent that will finance the project. The firm reportedly came up with an unsolicited proposal.
In phases
He said the P138 billion will be released in phases in the next eight years.
He said SM will get 49 percent of the total reclaimed area of 1,500 hectares, or 735 hectares.
The rest will be shared by the Provincial Government, the Philippine Reclamation Authority and Cordova.
The size of each parcel share is not yet known, but the Province will get 150 hectares, Adelino said.
“We are after the (realization of the) project not the sharing,” the mayor told the legislators.
Requirements
According to the resolution, Cordova, through the mayor, issued a certificate of acceptance last March 3 to SMPHI’s proposal.
Cordova’s public-private partnership selection committee found the proposal complete and beneficial to the Municipality, among others.
The mayor said the project proponent also agreed to comply with all the fisherfolk groups’ demands.
Aside from making the 2,000 fisherfolk a priority in employment for the project, SMPHI will also come up with education, health and housing programs for them and their families, as well as offer them job opportunities at SM.
The resolution also requires Cordova and SM “to submit to the governor, vice governor and the PB their livelihood project plan in the event that there will be displacements as a result of the implementation of the project.” This must be done before the project is implemented and after the joint-venture contract is signed.
Adelino said the Municipality’s fishing grounds measure 3,500 hectares. Some 2,000 hectares will be left when the reclamation is completed.