THE Double Dragon Properties Corporation will operate and maintain the new ferry terminal building at the Parola area in Iloilo City.

The corporation will build the terminal amounting to more than P135 million and will also operate and maintain the ferry terminal.

Iloilo City Administrator Norlito Bautista said the terminal project is under a joint venture with the City Government.

Bautista said the joint venture was reviewed and assessed by the National Economic and Development Authority (Neda) found to be beneficial to the City Government of Iloilo.

Double Dragon will pay the City Government a percentage from the proceeds of the terminal and will likewise develop a park beside the terminal building and a city mall to serve the needs of boat commuters from Iloilo and Guimaras.