AT LEAST six reclamation developers have agreed to give to the Cebu Provincial Government 10 percent of their reclaimed lot, or its monetary equivalent based on the current market value or by lot swapping, whichever is higher, based on Provincial Ordinance 2022-09.
These companies include the Cebu Industrial Park Developers Inc., Cebu South Harbor Container Terminal Corporation, Dynacast Ship Building and Repair Incorporated, Global Business Power Corporation, Therma Visayas Incorporated, and Cebu South Port Infrastructure Corporation.
The representatives of the companies met with Governor Gwendolyn Garcia and personnel of Cebu Provincial Reclamation Authority (CPRA) at the Capitol on Thursday, May 4.
Garcia is chairperson of the CPRA, which regulates the reclamation projects in the province.
While the Cebu South Port is reclaiming land in Minglanilla town, Cebu South Harbor is set to work on a reclamation project in Talisay City.
The reclamation project of Cebu Industrial Park Developers is in Balamban town, while that of Dynacast Shipbuilding and Repairs is in Danao City.
Under the Provincial Ordinance 2009-02 as amended by PO 2022-09, all reclamation developers are required to give 10 percent of their reclaimed land to the Cebu Provincial Government or the monetary value of the reclaimed land or through a land swap. (PAC/TPT)