THE Bacolod Real Estate Development Corp. (Bredco) will invest about P24 billion to reclaim an additional of 300 hectares of foreshore land in Bacolod City this year.
John Alonte, president of Bredco, said on Thursday, March 21, that this will be Phase 2 of the reclamation project in the city.
“Bredco already reclaimed 250 hectares and this (300 hectares) will be an additional or the Phase 2 of the reclamation project,” he said.
He added that they already sent a communication to the City Mayor’s Office as well as to the City Council asking for permission to reclaim the 300 hectares.
Bredco is also waiting for the Implementing Rules and Regulations from the Philippine Reclamation Authority.
“Once we have the templates, we will follow because the company is really serious in terms of reclaiming more properties here,” Alonte said.
He said that next week, they will apply for a Resolution of No Objection or Rono from the City Council for the endorsement of its 300-hectare reclamation project.
Alonte disclosed that its part of Bredco’s vision to make Bacolod a transshipment point and a center of commerce in Negros Occidental.
This project is expected to be completed in one to two years.
For his part, Mayor Evelio Leonardia said he does not want to preempt the action of the City Council.
“Bredco started in 1961 and now we’ve seen the effect of reclamation in Bacolod--big establishments are here,” he said.
He added that it will spur more economic activities in Bacolod and reclamation is a big advantage in the city. (MAP)