THE incoming administration in the province will still have huge loan capacity.
This was assured Monday, April 22, by Acting Provincial Administrator Lucille Gelvolea after observations came out that the present administration has been availing several loans for its pet projects.
Among the projects that are considered legacy of Governor Alfredo Maranon are the Negros First Cyber Centre, The Negros First Hostel, Mambukal Convention Hotel, The New Pala-pala, The Provincial Employees Subdivision and the Construction of the New Provincial Administration Center building which is worth P900 million.
Gelvolea said that the Landbank of the Philippines has already approved the P900 million loan applied by the province for the New PAC building.
“The monetary board is the one assessing the loan capacity of the province and so far huge loan capacity still awaits the next administration,” she emphasized.
Gelvolea revealed Monday the provincial government targets to break ground the New PAC Building to be constructed at the more than 3,000 square meter Capitol property before Maranon finishes his term on June 30.
Dynamic Builders, Inc. has won the project to construct the six-storey New PAC Building.
The company has also won the Swiss Challenged for the P1.6 billion investment for the development including the construction of a mixed-use building at the more than 6,000 square meter Old PAC Building of the Capitol.
No contractor has challenged the company in the Swiss Challenged after they submitted an unsolicited proposal for the project.
“It’s a back to back project for Dynamic Builders,” Gelvolea said. (TDE)