A BIG ticket project will rise in Malita, Davao Occidental fueling economic growth in the province.
The project dubbed as Davao Occidental Marina and Industrial Park will be developed within a 2,000 hectares property in Barangay Buhangin Tubalan, Malita, Davao Occidental. It is scheduled for groundbreaking ceremony on October 27, 2017.
"It is designated by Philippine Economic Zone Authority (Peza) as an Economic Free Trade Zone," Asllan Jaku, chairman and CEO of Pionaire Finance Limited, the Hong Kong-based company behind the Private - Public Partnership (PPP) project, said in a press statement.
The Marina and Industrial Park, which is pegged at $25 billion worth of project, will be composed of 1200 megawatt (MW) liquefied natural gas (LNG) combined cycle power plant; chemical industrial park; water-generation manufacturing facility; LPG & Storage Terminal; 20 million metric tons refinery; Petrochemical Complex; and a storage facility together with an associated Terminal and International Port and Cargo Terminal.
"In light of the 'Build, Build, Build Campaign' initiated and advocated by President Rodrigo Duterte to bring economic stability to the country, there is no doubt that this new industrial park will serve as an engine of economic growth to the province and its neighboring areas," Jaku added.
Melanie May Reymundo, Ciri human resource manager, in a phone interview said the investors chose Davao Occidental as their investment area because of its strategic location and its open sea area is accessible for jetties.
Ciri is a service provider company which serves as the local counterpart of Pionaire Finance Limited.
Meanwhile, the ground breaking ceremony is expected to be attended by Peza director General Brigadier General Charito Plaza, Davao Occidental Governor Claude P. Bautista, Vice Governor Franklin P. Bautista, and Representative Lorna B. Bandigan and partners of Pionaire Finance Limited.