Bridge project ‘questionable’-A A +A
Friday, September 20, 2013
GOVERNOR Alfredo Marañon, Jr. questioned Thursday the multi-billion project for the construction of a bridge to connect Negros to Panay Island allegedly initiated by the New Negros Integrated North and South Realty Development Corp. (NNINSRDC)
Marañon said the company's paid-up capital must be investigated first with the Securities and Exchange Commission (SEC).
"It is just easy to say that they are capable of doing this project but their financial standing is the most important. It is easy to bring in here foreigners even just from Ermita," Marañon said.
He made the reaction to reports that the company has brought some foreign contractors and even brought them to Guimaras province for a site tour.
The company, in previous year's press conference, presented a P30-billion infrastructure project in the province.
The NNINSRDC has laid down its plan on a 100-hectare reclamation area in Barangay Palaka, Valladolid, Negros Occidental and therein build the Valladolid-Guimaras Bridge, a gymnasium, a hospital, a transport terminal, a market, hotels and, if possible, a golf course.
The company's officials even said during the press conference that they have foreign funders for the said projects.
Marañon cited the feasibility study during the administration of the late governor Joseph Marañon that bared that the bridge project that will connect Negros to Panay from Tomongtong, EB Magalona to Banate in Iloilo would cost $1.8 billion.
Published in the Sun.Star Bacolod newspaper on September 20, 2013.