Saturday, February 23, 2008 Toledo prepares requirements for bigger 120-hectare ecozone
The Toledo City Government is eyeing a bigger special economic zone in Barangay Sangi.
City Mayor Arlene Zambo said the Toledo Ecozone Development Corp. — a consortium comprised of the City Government, Toledo Power Corp. (TPC) and Atlas Fertilizer Corp. (AFC) — plan to develop a 120-hectare ecozone in Sangi.
Zambo said the consortium has already started the leg work in processing necessary documents, including those required by the Philippine Economic Zone Authority (Peza).
She said, though, that the lots where TPC and AFC are operating already comply with ecozone requirements of Peza.
“We are just hoping for the final negotiations with SSS (Social Security System), which we hope will happen within this month as there are just few items that needs to be ironed out like price, terms of payment and interest rate,” Zambo said.
SSS owns around 59 hectares of the proposed site. The land was previously owned by Atlas Consolidated Mining and Development Corp. (ACMDC), which used the property to pay for the membership premium of its employees and late payment charges.
Since ACMDC ceased operating in 1992, the lot has remained idle.
Zambo said a number of companies, including Global Business Power Corp. and Carmen Copper Corp. (formerly ACMDC), are interested to purchase portions of the lot.
Global Business Power, a member of the Metrobank group, owns TPC while Carmen Copper is the mother company of AFC.
Global Business Power owns around 24 hectares of the proposed ecozone. Carmen Copper owns 27 hectares. The remaining 10 hectares are owned by Toledo City.
Zambo said the consortium aims to complete the ecozone project within this year. She described the proposed ecozone as “an industrial estate but the first phase will be more of a special export zone.” The industrial estate will be developed in the second phase, the mayor said.
Toledo City, which is located 50 kilometers from Cebu City, aims to attract more industries with the establishment of the ecozone.
“Toledo’s special ecozone is one of the best located special economic zones in the country as it will have a power provider inside. Toledo has abundant water that can be tapped. It also has the needed communication facilities,” Zambo said.
Earlier, she said the ecozone supports Toledo City’s aim to be the destination for manufacturing and industrial development in the southern part of Cebu Province.
With the reopening of the Atlas mines in Barangay Lutopan, Zambo said Toledo City will be attracting investors in light manufacturing and industrial operations.
She also said the City Council has approved tax incentives, including a five-year business tax holiday for companies that would locate in the ecozone.
Retail stores, such as Prince Warehouse Club Inc. and a Gaisano chain of department stores, will establish branches in Toledo this year, she said. MMM
