$20B industrial park to rise in Mati City-A A +A
Sunday, November 3, 2013
THE Mindanao Eco Bio-fuel Development and Technology Inc. (MEBFDTI) is embarking on an ambitious project with the establishment of the 680-hectare industrial park in Mati City.
The park is set to include a special economic zone, a thermal power plant and an international airport and seaport.
The special economic zone, which will rise in 350 hectare property, will house factories belonging to 72 locators, most of which are multinational companies.
MEBFDTI chair Elizabeth D. Uy already has already signed an agreement for these 72 companies.
The industrial area of the special economic zone will house factories of companies which will be categorized as light and heavy industries.
Companies engaged in electronics, software and medical businesses will be classified under light industries while car manufacturers, rubber factories and the like will be classified under heavy industries.
A commercial area will also be set up in the special economic zone that includes a mall, a five star hotel and a boutique hotel. There will also be a residential area with single detached executive housing units, as well as tenement buildings.
An airport, to be called the MEBFDTI Mati International Airport, will also be put up in the industrial park. Initially to be used as a cargo airport for the special economic zone locators, MEBFDTI will slowly transform it into an international airport capable of handling both domestic and international commercial flights.
The same goes for the MEBFDTI Mati International Seaport. Located 2.5 kilometers southwest of the MEBFDTI Mati Eco Techno-Industrial Park, the seaport will also be used for the cargo of the locators in the special economic zone.
MEBFDTI will also be putting up a water system capable of producing 100,000 cubic meters of potable water, again for the use of the locators.
It will only produce 55,000 cubic meters in its first five years, however, and its output will be raised to 100,000 on its sixth year, with excess water being given to nearby communities.
To power all these, MEBFDTI will also be building a thermal power plant, using Circulating Fluidized-Bed technology, which is said to be the latest development in "clean coal" technology.
The facility will utilize a carbon dioxide capture and recovery system that will collect the carbon dioxide emission, which will be used in conjunction with ammonia to create fertilizer for use of local farmers.
UCI Indonesia is said to be the supplier of coal for the power plant.
The power plant will be used primarily to power the industrial park, but any excess power generated will be supplied to the national grid.
Uy herself made a personal effort to convince the locators to take part in the industrial park.
The project is estimated to cost around $20 billion, which has already been obtained through foreign direct investments. Half of the amount has already cleared by the Bangko Sentral ng Pilipinas to fund the project.
The permits for construction are currently being processed, and Uy said they hope for construction to begin by the first quarter of 2014.
Published in the Sun.Star Davao newspaper on November 04, 2013.