THE multi-billion Davao Oriental Industrial Park project breaks ground on Tuesday, March 21 in Barangay Maputi, Banaybanay, Davao Oriental.
The project, pegged at $24-billion, is a partnership project between the Provincial Government of Davao Oriental and Pionaire Finance Limited (PFL), a Hong Kong-based financing company.
The project’s memorandum of understanding was inked on Tuesday, March 20 affirming the provincial government’s commitment to establish a 1,500 hectares land area and six kilometers coastline for the PFL and its consortium partners to develop an industrial park.
Davao Oriental governor Nelson Dayanghirang, speaking in yesterday’s business conference at Marco Polo Hotel Davao said the project will enhance the province’s infrastructure system and competitiveness as an investment destination.
“This is a rare opportunity that we might miss forever if we do not seize it or take action now,” he said adding that the big-ticket project, more than enhancing the province’s competitiveness, will also generate some 10,000 jobs to the community.
The project's business forum was attended by some 300 participants from the government offices, private sector, academe, civic organizations, media, and religous organizations.
With the groundbreaking ceremony, Dayanghirang said, it marks the start of the project’s initial stages including, among others, the acquisition of land, securing environmental compliance certificate, conduct of series of consultations, and the process of declaring it as an industrial zone.
Bill Shen, president of PFL, for his part said, they are excited to be part of the province’s economic transition.
“We believe with Governor Dayanghirang and partners, the project will create tangible, long-term economic benefits to all the people in the province,” he said in a speech in yesterday’s forum.
PFL will that lead, facilitate and consolidate with foreign investors (for the project) consisting three state-owned Chinese companies namely MCC International Incorporation, Ltd; Shenzen Energy Group; and Dezhou Chemtics Chemical Co., Ltd; and one US-based company WaterGen.
The project will be composed of five major industries. Among the structures to be constructed within the industrial park are: 2,700 megawatt (MW) liquefied natural gas (LNG) Combined Cycle Power Plant; Petrochemical Refinery; Fertilizer factory; Cement Plant; and WaterGen Manufacturing Facility.
The soon-to-rise industrial park will also feature LNG and LPG Storage and Receiving terminals, Regasification Facility; 10 million MT Storage Tanks and Terminal for crude oil, Steel Plant, International Port and Cargo Terminal, Light Industry, Textile Park, Mechanical Park, Electronic and Construction Materails, Agribusiness Park, Logistic and Commercial Park, and Manufacturing Facilities for Prefabricated homes.
The investors emphasized that with the project’s realization, the community’s welfare will be taken care of as initiatives in putting up hospitals, school, environmental projects, disaster preparedness and mitigation projects, and housing projects and relocation sites will be part of the ambitious project.