CATBALOGAN CITY -- Construction of Catbalogan’s new township, dubbed as the Sky City Mega Project, officially started Tuesday, an official said.
City officials led by Mayor Stephany Uy-Tan accompanied on Tuesday executives of the South Korean Odin Energy Co., Ltd. in the inspection of the “Sky City” area, where the proposed energy wind tower will be built.
To date, construction of the four-lane wide road leading to the wind tower, the first wind power project to be installed in the Visayas, is ongoing.
The estimate cost of the wind tower, to be installed at the new diversion road two kilometers south of the city, is about $2.4 million, Uy-Tan said.
The Sky City is 482-hectare mega project located in the south upland area of the city designed to decongest the traffic problem. It is a flood-free and typhoon-resilient expansion located 120 meters above sea level.
Uy-Tan said Sky City will be the new home of several government offices, mall zones with parking space, health and wellness center, hotels and resorts, ICT hubs, sky city residences, educational and training hubs, multi-purpose complex, and a 25-hectare “flood-proof’ dam that will serve as a water catchment to eliminate flooding in the downtown area.
A source said a foreign entity reportedly pledged P4 billion for the Sky City Mega Project.
Uy-Tan said the city settled with finality some issues, such as equities and capital sharing, among other necessary requirements, with the foreign firm Odin Energy.
After approval of few revisions and final designs, both Odin representatives and City officials approved to start the construction of the tower in mid-2016 or six months from now.
“So far, all is well now and the construction will start soon,” Uy-Tan said.
The Memorandum of Agreement (MOA) inked by both parties stated that the foreign firm will provide the technology and turbines for the wind power generators, while the City Government will finance for the site preparation.
Odin president and chief executive officer (CEO) Young Mi Back said the tower power generator is an innovative technology aimed to provide wind and solar sourced power in the city.
Odin Energy Vice President Richard Yo Songsuk assured that their company will not share anything from the profit of said project.
“Any earnings derived from the project will be reinvested again in the City by building again similar project within the city,” he said.
The 13-storey wind tower project will house the new city hall, government offices, restaurants and viewing decks for local and international tourists.
Other sources said Songsuk is referring to a similar Green Project to be implemented also within the city after the wind tower project.
As of this date, several investors had sent fillers to invest in the new and upper city. (Sunnex)